World automakers were launching 13 new models Monday as they converged on China's commercial capital for the Shanghai Auto show, a key showcase for the only major growing car market.

 

From upstart BYD Auto to sports and luxury car makers like Porsche, automakers everywhere are zeroing in on China's growth as they struggle through hard times elsewhere.

 

"The number of new launches, especially from global manufacturers, will set it apart," said Paul Gao, CFO of Chery Quantum Auto Co., a new unit of Chery Automobile Co. that is developing upscale models for the domestic automaker.

 

"Many automakers now see the Chinese market as at the forefront," he said.

 

Porsche kicked off the show on Sunday night by unveiling the Panamera, the German automaker's first foray into the luxury sedan segment. Porsche said its decision to reveal the vehicle in China signals the rising importance of the country's auto market.

 

Porsche sales in Asia more than doubled in its 2007-2008 fiscal year to 7,600 vehicles, the company said.

 

"This is a clear signal that we count on these markets and have full confidence in their future economic potential," Porsche Chief Executive Wendelin Wiedeking said in a statement.

 

Like the company's Cayenne SUV, the new four-door Panamera will be built at Porsche's plant in Leipzig, Germany. It will be entering the market in Europe, South America and parts of Asia in September 2009, in North America and Australia in October, and in China in early 2010.