Semiconductor demand for automotive industry will grow 22.3% in China

4 mln cars were sold in China in 2003, and the demand is supposed to pick up by roughly 857 thousand cars each year. The market for automotive electronics and automotive semiconductor components is growing rapidly, with an average annual growth rate of 26.3% and 22.3%, respectively, according to CCID Consulting. The leading manufacturers of automotive electronics in China are mostly joint ventures, including United Automotive Electronic Systems (UAES), Siemens Automotive Electronics and Delphi Automotive Systems (DAS).