China Surpasses US in Vehicles on the road

[frawin]

When I started with Phillips in the Tanker Chartering Group in the 70s, China was not a factor in the Oil Markets. Today they are one of if not the biggest Petroleum users. China is one of the biggest reasons we have $90.00 oil today, and China is just getting started.

China Surpasses US in Vehicles on the Road[/b
]As recently as 1960, China had just 200,000 vehicles on the road, but the country's personal vehicle fleet reached 217 million at the end of June and for the first time surpassed America's fleet of about 200 million personal vehicles.

The United States still leads in the number of automobiles, however, since China's total includes 103 million motorcycles, according to China's Ministry of Public Security. Americans own just 8 million motorcycles along with 192 million automobiles.

Chinese drivers bought 9.59 million automobiles in the first six months of this year alone, increasing motor vehicle ownership by 3.6 percent.

Five Chinese cities, including Beijing and Shanghai, have more than 2 million auto registrations.

China did not build its first modern automobile plant until 1956, and as recently as 1970 produced just 87,000 vehicles. That figure rose to 222,000 in 1980, 509,000 in 1990, 2 million in 2000, and 18.2 million last year.

The United States is currently producing about 10 million vehicles a year.

Chinese carmakers account for about 44 percent of the automobiles made in that country, and the rest are made by joint ventures with foreign carmakers.

General Motors manufactured 346,000 cars in China in one recent year, surpassed among foreign makers only by Volkswagen's 430,000.

China is also expanding its freeway system, adding 7,000 miles last year to its national interstate expressway system. It now has a length of 53,000 miles, while America's interstate highway system is around 76,000 miles long.