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2010 07

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China driving global auto business

As the Big Three U.S. automakers sputter in debt, automobile makers worldwide are speeding into the Chinese market in a race to win profits in the world’s fastest growing economy for cars.

“You have to be here, and you have to be here in a serious way,” Dieter Zetsche, Daimler Chrysler CEO, told CNN.

The auto world has descended on the Shanghai Auto Show this week. More than 600,000 visitors are expected to attend the six-day event, which includes 1500 automotive manufacturers and the announcement of 13 new models, including Porsche’s first four-door sedan, the Panamera.

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