Financial News

  • 22 April 2014, 23:30

Best Of British Gear Up For China Car Show

Some of Britain's most famous cars are on parade today at one of the most important days in the motoring calendar.

UK brands such as Rolls-Royce, Jaguar and Land Rover are showing their new models at the China Motor Show in Beijing to help boost sales in an intensely competitive market.

More than 1,100 vehicles will be on display at the exhibition which will also be attended by General Motors, Toyota, Volkswagen and Hyundai, along with SAIC and Dongfeng, China's domestic carmakers.

Although sales growth is forecast to slow from last year's 15.7% to 8 to 10% this year, China remains the world's biggest auto market with 17.9 million vehicles sold last year.

The expo comes as a growing number of Chinese cities are restricting the number of cars on the road in a bid to battle pollution and congestion, moves that analysts warn could cut into purchases.

The eastern city of Hangzhou, a popular tourist destination, last month became the sixth major city to implement such a restriction, with some estimates placing the limit at 80,000 cars a year.

The boss of Mercedez-Benz in China told Sky News earlier this year that survival in the automotive industry is based largely on success in China.

German auto giant Daimler also announced recently it had signed a $1.4bn deal with Chinese partner Beijing Automotive Industry Corporation to expand production at their joint venture in Beijing.     

Among the cars on display at the exhibition will be one of the first 1965 Ford Mustang Convertibles.

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