Industry Analysis & Industry Trends
The Passenger Car Manufacturing industry in China has been experiencing rapid growth in recent years, mainly driven by increasing demand for passenger cars in the domestic market. Revenue for the industry is expected to increase to $612.0 billion in 2016, up 5.6% from 2015, and growing at an annualized rate of 10.6% over the past five years.
With rising income levels in China, improving road conditions, and competitive prices, passenger cars are becoming more affordable for Chinese residents. A series of favorable government policies have also stimulated new energy passenger vehicle purchases in rural and urban China. Lastly, increasing numbers of domestic passenger car manufacturers have been expanding into foreign markets, driving export demand.... purchase to read more
Industry Report - Industry Products Chapter
Before 2005, the adopted automobile classification system divided automobile vehicles into three categories: freight vehicles, passenger motor vehicles and buses. After the new automobile classification system was adopted in 2005, automobile vehicles were divided into two large categories: passenger vehicles and commercial vehicles. Passenger vehicles are further divided into four types: basic vehicles, multipurpose vehicles (MPVs), sport utility vehicles (SUVs) and mini buses.
In 2016, basic vehicles will continue to be the dominant product segment, accounting for 55.4% of total industry sales volume, as basic cars are widely used in business and family... purchase to read more