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Sunday, July 27, 2008

China's Cars, Accelerating A Global Demand for Fuel

China's Cars, Accelerating A Global Demand for Fuel from the Washington Post.

Key Points:
  • More Buicks were sold in China than in the US, because of the Buick's historial brand as a luxury car in China going back to Sun Yat Sen.
  • Cars are a symbol of wealth, so high mileage is not valued highly. Having a car that allows for a chauffeur and size is.
  • Demand for oil is increasing by 20% per year.
  • 40% of the increased demand for oil came from China.
A revealing quote:

"People want to have a car that shows off their status in society. No one wants to buy small."

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