Forbes predicts that the U.S. will bypass China this year as the world’s largest auto market. Forbes does that because it employs as its China expert one of the lousiest forecasters in the business.  Regular Forbes columnist Gordon G. Chang published a book in 2001, titled “The Coming Collapse of China.” In it, he predicted that China would implode by 2006, if not earlier, due to the mass of non-performing loans. China did not implode. Instead, non-performing loans brought the U.S. banking system and the world to the brink in 2008. In 2006, Chang wrote the book “Nuclear Showdown.” In it, he predicted that North Korea would rain nuclear missiles on Japan. Has not happened either. Now, Chang predicts that China will no longer be the world’s largest auto market when the year is over, and that the title will go back to the U.S.

By making this prediction, Chang shows that America is a land of opportunity: People who can’t count and aren’t really bright can become famous columnists at Forbes. (Read More…)

Those who have followed TTAC’s coverage of China’s car electrification plans in general  and BYD’s track record in particular will have noticed a degree of healthy skepticism. Actually, we had declared that the electric car only has a chance if you for all intents and purposes outlaw regular cars, as it is the case in Beijing. I have been out there today, and haven’t seen any: If there are no EVs to buy, then none will silently prowl the streets. As far as BYD goes, last March we called them a “down and out car company that should qualify for a handicapped parking sticker.”

Now at last, Forbes’ resident China expert Gordon G. “I hate China” Chang wakes up to the matter and writes: (Read More…)