Detroit: Don’t Worry About Cheap Chinese Cars

Detroit: Don’t Worry About Cheap Chinese Cars

China’s ambassador to the U.S. visited Detroit Tuesday to speak to the Detroit Economic Club –- and to calm Detroit automakers’ fears that China is about to flood the market with cheap cars.

In fact, Ambassador Zhou Wenzhong told the media before his speech that there’s little risk of Chinese automakers flooding the U.S. automarket anytime soon because the demand for vehicles in China is expected to continue to grow. Pointing out that less than 1 percent of China’s population owns a vehicle now, Zhou said Chinese automakers won’t have the capacity for “a long time to come” to sell a large volume of cars in the U.S.

Michelle Krebs:  is Editor-in-Chief of AutoObserver.com. Follow @AutoObserver on Twitter.