This year China’s car market has come back down to earth – not so much with a thud, as with a bounce.
The China Association of Automobile Manufacturers this month downgraded its forecast for 2011 vehicle sales to below 5 per cent – the slowest rate of growth in more than a decade.
At about the same time as the carmakers were deflating sales expectations, those who hold the government purse-strings in Beijing were struggling to rein in the country’s inflated ambition to launch a global revolution in electric vehicles.
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