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Chinese Automakers Feasting on Our Carrion Car Companies

First, a smallish company wanted to buy Hummer. Now, Beijing Automotive wants to buy Ford's European operations.

Chinese car sales will approximate 10 million this year. That would be about the smae as (shrunken) U.S. car sales. China is about to take over as the world's largest consumer of cars. No wonder they need new capacity fast.

The cars of e.g. GM, weren't "hip" enough for the U.S. market. But they were perfect for the stodgy Chinese market. It's a pity that GM couldn't survive the remaining few years until Chinese sales could bail them out.

Let's face it, the U.S, auto companies are among the walking dead. That's certainly true for GM and Chrysler. Ford might have escaped this fate, but the "bailouts" of the other two probably consigned this company to the scrap heap as well. The Chinese companies are in the best position to pick up the pieces. And they seem to be hard at work doing so.