“China Ends U.S.’s Reign as Largest Auto Market”
In a January 11, 2010 Bloomberg article, Booz & Company Senior Executive Advisor Bill Russo (China) said that new figures showing China is the world’s biggest car producer of underscores the might of the market, which will likely remain in that position even as sales slow in 2010 on a reduction in tax cuts. “China is becoming the center stage of development for the 21st-century global auto industry,” said Russo. However, in a follow-up article in Bloomberg, (“Buffett-Backed BYD Sees U.S. as Key for Electric Cars”), Russo said that plans for the Shenzhen, China-based automaker, BYD, to accelerate its planned 2011 debut in the U.S. could be a risky strategy. Speeding up the model’s debut in a market dominated by hybrids such as Toyota Motor Corp.’s Prius is “very ambitious and probably too risky,” said Russo. “Introducing a new brand and technology to a mature market is a major task for even the most experienced companies. (It) seems like a stretch for a relatively new company like BYD.”