Do you think our country made the wrong decision to bail out the unions, I mean the auto industry.
Executives from the world's top carmakers said at the Detroit auto show that China and India could pose a significant competitive threat in coming years. "They are a very credible threat and we discount anyone at our peril," John Mendel, vice president in charge of sales at American Honda Motor, said on Jan. 12.
While the globally competitive nature of the automotive industry requires mass economies of scale, the relatively young Chinese and Indian manufacturers are ramping up quickly, Mendel noted. And the Chinese automakers buying brands like Hummer and Volvo are gaining access to a valuable distribution network, critical technology and "instant credibility," he said.
Meanwhile, both countries are becoming increasingly important markets in the global sales strategy of top automakers with China surpassing the United States in total sales volume last year and Indian sales expected to double by 2016.