Industry Analysis & Industry Trends
The Passenger Car Manufacturing industry in China has been experiencing rapid growth in recent years, driven by increasing demand for passenger cars in both domestic and foreign markets. Revenue for the industry was expected to reach $454.6 billion in 2013, up 15.2% from 2012, and growing at an annualized rate of 23.8% 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 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 Analysis Chapter
Revenue for the Passenger Car Manufacturing industry in China has been rising rapidly in the five years through 2013, at an annualized rate of 23.8%. Industry drivers include increasing disposable incomes, improved road infrastructure, urbanization, and a favorable policy environment.
Per capita disposable incomes of urban households rose steadily, at an annualized rate of 11.7%, from 2008 to 2012. In 2012, disposable incomes of rural and urban households' rose by 13.3% and 15.0% from 2011, respectively. Higher income levels have enabled more Chinese households to purchase passenger cars. Moreover, in 2012, the population in urban areas accounted for 52.6% of total population in China, surpassing the rural population for the first time... purchase to read more