SHANGHAI: Carmakers from China and around the globe touted their latest models Tuesday as the Shanghai auto show got under way with the industry increasingly focused on the world-leading Chinese car market.
World premieres at the show include Volkswagen's new retro-styled Beetle, General Motors' new Chevrolet Malibu, Buick Envision, and its China-only Baojun 630, while France's PSA Group will debut its Citroen DS5.
"China continues to present an unparalleled opportunity for our company -- and for our competition," said Tim Lee, the Shanghai-based president for GM International Operations.
Since the previous Shanghai auto show in 2009, China has overtaken the United States as the world's top car market and the event has accordingly emerged as one of the world's biggest auto fairs.
Signifying the hopes for further Chinese growth, General Motors on Monday announced that it aimed to more than double its market-leading car sales in China by 2015.
GM China Group President Kevin Wale said the US auto giant aimed to capitalise on "the unmatched opportunities that the Chinese market offers" and sell around five million cars a year by 2015, up from 2.35 million last year.
Auto sales in China rose more than 32 percent last year to a record 18.06 million units as the nation's economy quickly powered out of the world economic slowdown.
The show, which opened Tuesday to the media, covers 230,000 square metres (2.5 million square feet) of exhibition space, organisers said.
About 2,000 car and parts makers from 20 countries are participating, showcasing 75 new car models, 19 of them making their world premieres. A total of 1,100 vehicles will be on display.
Organisers expect 700,000 people to visit the show over the six days that it is open to the public beginning on Sunday.
As the first auto show since the March 11 earthquake and tsunami disaster in Japan, where a large number of auto components are made, Shanghai will also allow industry heavyweights and analysts to gauge the impact of the catastrophe on the sector.
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