China may be the only country right now that is showing positive sign of life as far as the car industry is concerned. Hence, with that in mind, the Shanghai Motor Show officially opened in China to which carmakers are expected to unveil 13 new models.
China has just overtaken the US as the world’s largest car market, with buyers spurred on by government incentives. US and European car sales are sharply down in the global recession.
Porsche kicked off the show on Sunday night by unveiling the Panamera, the German luxury carmaker’s first foray into the sedan segment. In another world premiere on Sunday, German automaker Daimler AG unveiled the remodelled Mercedes-Benz S65 AMG sedan. AMG sales nearly tripled in China last year.
The company says it expects government incentives to give sales of luxury cars a major boost this year. Beijing has introduced tax cuts on fuel-efficient cars and incentives for people in rural areas to buy newer models.
Organizers say the Auto Shanghai 2009 will feature 13 launches, mostly from local brands, but up from five at the show two years ago.
Most Chinese carmakers have so far focused on competing mainly on price with basic and often rudimentary vehicles, leaving foreign-branded cars to sweep up the mid- to high-end segments.
The show opens to the public for a week starting on 22 April.
(Source) BBC
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