China: Auto Industry's wild hopes
Renault, the French carmaker, is content to sit on the sidelines for now. Its chairman Louis Schweitzer said that he would decide by next spring whether to make a major investment in China.
Analysts say though that China's future is not all good for car makers, and some potential problems remain: the large number of foreign carmakers entering China, the lack of a genuine used-car market and the development of consumer credit in a country with debt-laden banks.
"Everyone is rushing into China, there's not a lot of visibility right now," Schweitzer said.