Ｃｈｉｎａ’ｓ Ａｕｔｏ Ｉｎｄｕｓｔｒｙ Ｕｎｄｅｒ ｔｈｅ Ｆｉｎａｎｃｉａｌ Ｃｒｉｓｉｓ

Ｗａｎｇ　Ｘｕｅｆｅｎｇ

The global financial tsunami has swept the automobile industry and put major auto markets in the world at stake.The Ameri-can market is now between the beetle and the block,with both General Motors and Chrysler on the verge of reshuffling.The European market has seen a plunge in both car production and sales in many countries.Several big auto companies in Japan have suffered a slump in car sales both at home and abroad.China's economy is inevitably affected,on a relatively small scale,by the international trend.According to China Association of Automobile Manufacturers,car production and sales totaled over 7 million in the first nine months this year,growth going down further over the previous two years.From April to September,car sales in China kept declining for five consecutive months.The big picture is not so encouraging.