China Auto Market Will Continue to Drive Sales for Western Manufacturers in 2011
December 23, 2010 at 05:00 AM EST
The world's largest carmakers, including Toyota Motor Corp. (NYSE ADR: TM ), General Motors Co. (NYSE: GM ) and Volkswagen AG, expect China's red-hot economy to keep auto sales rolling at a record pace in 2011, making it the third year in a row the Red Dragon will top the U.S. in car sales. China's vehicle sales jumped 46% in 2009, dethroning the United States as the world's largest auto market and ending more than a century of American dominance that started with the Model T Ford. The nation's sales of passenger cars, buses and trucks rose to 13.6 million in 2009, the fastest pace in at least 10 years, according to the China Association of Automobile Manufacturers. At the same time, U.S. sales tumbled 21% to 10.4 million, the lowest level since 1982, according to Autodata Corp .