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 Analysis Chapter
Revenue for the Passenger Car Manufacturing industry in China has been rising in the five years through 2016, at an annualized rate of 10.6%. Industry drivers include increasing disposable incomes, improved road infrastructure, urbanization, and a favorable policy environment on new energy passenger cars.
Income levels have improved with urban per capita disposable income growing at the annualized rate of 15.5%. Higher income levels have enabled more Chinese households to purchase passenger cars. Moreover, in 2014, the population in urban areas accounted for 54.8% of the 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