Industry Analysis & Industry Trends
In the five years to 2015, revenue for the Car Dealers industry in China is estimated to grow at an annualized rate of 9.5% to $428.9 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, China's automobile sector resumed growth. About 22.1 million cars were sold in 2013, and industry revenue grew 13.4%, representing an increase compared with 2011 and 2012. In 2014, as the sales volume growth of automobiles slowed to 6.9%, industry revenue growth declined to 6.2% during the year. In 2015, the industry revenue is expected to increase to $428.9 billion, up 5.9% from 2014.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
In the 10 years through 2020, industry value added is expected to increase at an annualized rate of 9.2%, much 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 second-, 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