The U.S. should take a cue from China and replicate whatever secretive “Cash 4 Clunkers” program they’re using, because the auto industry is booming in China.
(Oh right, their secretive program is called being a gigantic emerging market with nearly 10% GDP growth)
Sales of passenger cars are up 98%….in November alone:
WSJ: November’s passenger-auto sales rose 98.2% to 1.04 million units, data from the China Association of Automobile Manufacturers trade group showed Tuesday.
The robust growth was also the result of a low comparison base. In the same month last year, passenger-vehicle sales fell 10.3% from a year earlier to 522,800 units, the steepest decline for 2008.
Overall vehicle sales in China last month rose 96.4% from a year earlier to 1.34 million units.