The economy of the Middle Kingdom is recovering at an express pace from the first wave of COVID19 cases. The Chinese want to become manufacturing leaders, both in cars, trucks and spare parts.
Research on this topic was conducted by Deloitte. Their results are very interesting.
In 2035, between 75 and 94 percent of all new cars will be sold on the Chinese marketwe can read in the published report.
Besides, Beijing wants to increase capacity in the car and truck manufacturing sector and become a world leader in terms of spare parts supply. This is a good outlook for the industry as a whole, as China’s persistence and resources could be the cure for the industry’s collapse as recorded in 2020.