Financial Times reports China may build more vehicles than Europe next year for the first time in the history of the automotive industry. All told, manufacturers in China are projected to produce 19.6 million light vehicles this year compared to the 18.3 million slated to be built in Europe. The numbers come from figures compiled from five analyst groups by Financial Times, including IHS, LMC Auto and PwC consultancies, as well as UBS and Credit Suisse banks. As the report highlights, Europe's numbers include countries like Turkey and Russia.
Those nations will help push Europe to produce around 20 percent of vehicles manufactured worldwide, down from 35 percent in 2001 and 50 percent in 1970. Meanwhile, China continues to enjoy a production boom, with the country expected to build 10 times the number of vehicles it did in 2000. In 2013, China is projected to account for 23.8 percent of global light vehicle production.