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 is expected to reach $516.4 billion in 2014, up 10.4% from 2013, and growing at an annualized rate of 16.9% 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 2014, at an annualized rate of 16.9%. 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 15.3%, from 2003 to 2013. Higher income levels have enabled more Chinese households to purchase passenger cars. Moreover, in 2013, the population in urban areas accounted for 53.7% of total population in China. More people living in urban areas leads to increasing demand for transportation by automobile vehicles, especially passenger vehicles... purchase to read more