After years of high expectations and low growth, China's auto market has suddenly taken off.The first three quarters of 2002 saw 2.4 million vehicles sold, up 34 percent from the year before, while passenger car sales soared an astonishing 47 percent to 800,000.The boom has created the belief that China will become the main driver of the otherwise stagnant global auto market over the coming two decades. A flurry of new deals ensures that car-making capacity will rise sharply in the next few years:Toyota, Hyundai and Nissan have each committed over US$1bn to new joint ventures which together will pump out 1.5 million passenger cars annually by 2010.
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