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China's car production could swamp global industry, supplier warns
Production capacity in China's fast-growing auto industry could more than double by 2020, but a surge beyond that level could swamp the Chinese market, warned the CEO of U.S. supplier BorgWarner Inc.
BorgWarner projects Chinese auto production could grow to 30 million units by 2020, and other analysts predict China's capacity could grow to 40 million units.
But there may not be enough Chinese buyers to snap up all those vehicles, said BorgWarner CEO Timothy Manganello.
As a result, Chinese automakers could export their excess vehicles to Europe, North America and Asia, a move that would put downward pressure on world auto prices.
"They're (Chinese automakers) going to try to take that capacity and try to export it, which will create a perfect storm in North America or Europe, because we already have some excess capacity," Manganello said during Reuters' automotive conference in Detroit. "It's going to create a fairly unique tension within the global auto industry."
But ramping up production to make 40 million cars could also backfire on Chinese automakers, leaving them with too much supply and few buyers, Manganello added.
"Even the Chinese (automakers) say if they end up with 40 million units of capacity, they don't know if they can sell 40 million units inside China."
And that could trigger a wave of consolidation among Chinese automakers, Manganello said.
BorgWarner projects Chinese auto production could grow to 30 million units by 2020, and other analysts predict China's capacity could grow to 40 million units.
But there may not be enough Chinese buyers to snap up all those vehicles, said BorgWarner CEO Timothy Manganello.
As a result, Chinese automakers could export their excess vehicles to Europe, North America and Asia, a move that would put downward pressure on world auto prices.
"They're (Chinese automakers) going to try to take that capacity and try to export it, which will create a perfect storm in North America or Europe, because we already have some excess capacity," Manganello said during Reuters' automotive conference in Detroit. "It's going to create a fairly unique tension within the global auto industry."
But ramping up production to make 40 million cars could also backfire on Chinese automakers, leaving them with too much supply and few buyers, Manganello added.
"Even the Chinese (automakers) say if they end up with 40 million units of capacity, they don't know if they can sell 40 million units inside China."
And that could trigger a wave of consolidation among Chinese automakers, Manganello said.