China has surpassed the USA in automobile production.
In 2008, China surpassed the United States to become the world's second largest auto-making nation, and in 2009 is set to displace Japan as the planet's largest car producer, according to iSuppli Corp.In America we have an excellent way of reducing car production. We have government mandates for things like airbags. And guess what - you can get 95% of the safety effect of airbags with seat belts at a cost of $10 per passenger. For a cost of around $500 to $1,000 per passenger you get the slight added protection of air bags which don't work properly if you are not wearing your seat belt.
Last year, China manufactured 9.3 million cars, while the United States built 8.7 million. In 2009, China will build 8.7 million autos, compared to 7.6 million for Japan.
"China's rise to the No. 2 position in global car manufacturing in 2008 marks a major milestone in China's economic ascendency and the United States' industrial decline," said Egil Juliussen, director and fellow of automotive research for iSuppli. "China during the last five years more than doubled its domestic automobile production, while U.S. manufacturing has declined by nearly 50 percent. China, which produces most of its cars for domestic sale, has benefited from its booming economy and the soaring disposable incomes of its consumers. Meanwhile, U.S. auto production has been declining steadily due to increasing imports from the NAFTA nations Canada and Mexico, as well as from Europe and Asia."
Cross Posted at Classical Values