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Cars and Drivers

China’s Car Market Loses Promise

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By Douglas A. McIntyre Published
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China is supposed to be the market which gets the global car industry back on its feet after the losses caused by three years of recession. The China market, which produced 18 million car and light truck sales, is also supposed to be large enough to offset a slowing of sales in Europe. Those piece of conventional wisdom were battered today by more evidence that the growth of the China vehicle market has ended for now.

Sales moved higher by only 4.5% in March to 1.4 million, and the first quarter total was down by 1.3% according to the China Association of Automobile Manufacturers. Most of the blame was put on an economy which is no longer in hypergrowth and high fuel prices. Rosy forecasts by global manufactureres are also likely to be undermined by GM’s (NYSE: GM) and VW’s powerful market shares which will be hard to overcome even if the market was growing.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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