China's Thirst For Cars Overtakes U.S.
13.6 million cars were sold in China in 2009, while American sales slumped 21% to 10.4 million.
From Bloomberg News: "China's vehicle ownership climbed to 51 million by the end of 2008 from 1 million in 1977. Per capital disposable income for Chinese households increased 46-fold in nominal terms during the period, also making the country the world's biggest markets for products such as cell phones, beer and microwave ovens.
GM and Volkswagen have targeted growing Chinese demand to compensate for slumping sales in the U.S. and Europe."