January 8, 2010 10:23 AM Subscribe
China is the new Detroit. New car sales in the United States plunged more than 20 percent in 2009 to a 27-year low 10 million vehicles, less than the 12.23 million sold in China during January-November, making the Asian giant the world's largest car market for the first time. That marked a turning point in the global auto industry, which had been led by the Big Three Detroit companies since Ford Motor Co. began mass production in 1913, introducing the world's first conveyor belt system.
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