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There are nearly 70% machine tool orders are coming from the car manufacturers. It is no wonder why the form and shape of the development of machine tools has largely been influenced by the demands from the automobile industry. If we are to make forecasts for the machine tool market, we must pay close attention to every aspect of the evolution of car manufacturing.
Sale Boosted up as Price Dropped
After successfully entered WTO, China is obliged to open its market to foreign automobile and spare part suppliers. Car magnates from all over the world are watching closely on every policy and market change happening in the country. It is predicted that China will become the fastest growing automobile market on earth within the next decade. ... Demands for passenger cars especially will remain on top of 15%, making it the strongest sale in the rapidly growing industry in the country (See Table 1). ... Import tax of passenger cars below 3-liter capacity has dropped from 70% last year to 43. ... Customs of vehicles of 3-liter or above also dropped from 80% to 50. ... Cars priced from US$ 37,500 to US$ 75,000 are believed to be the most welcomed ones. ... Local makers also released their latest models of existing brands to defend against competitions, such as Bora from FAW-Volkswagen, Picasso from Dongfeng Citroen, and Polo and Passat from Shanghai-Volkswagen, etc. ... Even so, there are still pressures on further down pricing from locally made vehicles due to lower production costs. ...
Enormous Opportunities
In order to help local car makers to compete with international manufacturers, Chinese government has thrown into some US$ 7.5 billions to advocate automobile technology renovation as well as to facilitate existing production tool upgrades during the "Tenth Five-Year Plan. ... Hot machine tool items demanded for this supporting plan are NC machining centers, flexible production lines, forging and stamping tools, welding equipment, spraying and coating machines, automobile molding tools, logistic equipment, test and measurement systems, heat treatment equipment, customized equipment, and factory automated systems.
The auto industry in China contributes some 40% to the total revenue from the national machinery industry output for the moment. It is believed that the industry will become a major contributor to the countrys GDP growth.
Approximate Word count = 1859
Approximate Pages = 7.4
(250 words per page double spaced)
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