Earthquake in Japan impacts some automakers, effects on industry as a whole considered limited (2)

12:51, April 22, 2011      

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Donald J. Stebbins, Chairman and CEO of Visteon, the world's leading auto parts supplier, said that the company has production facilities in Japan that were affected by the March 11 earthquake and tsunami.

Most industry insiders worry that Japanese carmakers' production will shrink substantially in 2011. Some insiders believe that auto manufacturers from emerging economies will snatch some of the lost market share. Those in the industry also predict that the earthquake and tsunami disasters will have only a limited impact in the long run on the global auto industry as a whole.

Jia Xinguang, an independent industry expert in China, says that some Japanese key parts producers have decided to shift manufacturing to other Asian countries, which will help expand auto production in Asia.

It is noteworthy that over the past few years, demand has continued to grow rapidly in China, India and Brazil, according to Jia. Last year, emerging markets accounted for one third of the world's total auto output, he noted, and the proportion is expected to rise annually.

John Moulton, a vice president with Johnson Controls (China) Investment, a subsidiary of the world's leading auto components supplier which is based in the United States, said at the Auto Show that his company was confident about the Chinese market's huge development potential. He also believes that the disasters' effects on the Chinese market will be limited.

The Shanghai Auto Show 2011 has attracted about 2,000 car and parts makers from some 20 countries and regions around the world. The eight-day event will conclude on April 28.

Source: Xinhua
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