China’s auto industry is ripe for consolidation and will eventually boast just five large domestic producers, a senior Chinese industry executive has predicted.
Zhu Huaron, president of Chang’an Automobile, one of the country’s largest domestic carmakers, told a conference in his company’s hometown of Chongqing that attrition would soon cut the ranks of Chinese car brands, which stand at 46.
Mr Zhu declined to say which marques would survive and which will fail, but said the number of producers must inevitably shrink.
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