High fuel prices, a nightmare for China’s auto industry

The year 2005 have seen three separate rises in fuel prices which are worrying consumers. Each rise has brought calls for people to buy small displacement and economical cars. The high prices are frightening consumers and making the auto market worse. July 23 saw the latest fuel price rise, 28 days after the previous readjustment. Even so, in early Aug, some regions reported a shortage of petrol. It is an inevitable fact that China is facing a petrol crisis. Western experts suggest that with…