Industry Analysis & Industry Trends
In the five years to 2016, revenue for the Car Dealers industry in China is estimated to grow at an annualized rate of 6.9% to $442.9 billion. Following a boom in car sales in 2009 and 2010, driven by favorable government policies, industry revenue growth slowed.
In 2013, benefiting from passenger car replacements in first- and second-tier cities and first purchases in third- and forth-tier cities, about 22.1 million cars were sold in 2013, and industry revenue grew 13.4%. In 2014, sales volume growth slowed to 6.9%, and industry revenue growth declined to 6.2%. In 2015, the automobile sales volume increased to 24.6 milliom and industry revenue increased to an estimated $430.0 billion, up 3.1% from 2014. In 2016, industry revenue is set to increase to $442.9 billion, up 3.0%.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
In the 10 years through 2021, industry value added is expected to increase at an annualized rate of 7.4%, higher than the general growth rate of GDP (6.5%) in China during this period.
Industry expansion is expected to slow in future years, as more Chinese families have already bought motor vehicles, and as the supporting effect of favorable government policies decreases. However, there remains considerable room for expansion in third- and fourth-tier markets. In the near future, a large number of car users will replace their vehicles with new ones. The duration of use for passenger cars is about 10 years but is expected to decrease with the development of Chinese society... purchase to read more