Chinese carmakers head to a slump-hit India and launch a new phase of competition

Chinese car manufacturers Great Wall Motor (GWM) and FAW Haima launched their first vehicles for the Indian market The news came after China’s car sales tumbled for the second year in a row, analysts are unsure of the recovery.HS Markit estimated India to take over Japan by 2025 and become the world’s third-largest car market after China. Chinese carmakers are gearing up to enter India in spite of an auto sales slowdown in the market. That’s because in their home turf, the government came up with a one-car policy which indicates a worse slump, making India attractive.Chinese car manufacturers Great Wall Motor (GWM) and FAW Haima launched their first vehicles in India, this month. GWM unveiled its Haval brand of a sport utility vehicle (SUV) and vehicle concept 2025 during the Auto Expo 2020.

from Business Insider India https://ift.tt/32w85Cp