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 SWOT Analysis Chapter
In the ten years to 2018, industry value added is estimated to grow 14.7% annually, higher than annualized GDP growth over the same period. This indicates that the Passenger Car Manufacturing industry is in the growth phase of life cycle.
Technology innovations have been developing in a fast pace in the past five years, which benefited improving vehicle function and features of passenger cars. New features and new car models have been released regularly. From 2008 to 2012, the number of new passenger car models rolled out to the market each year has been remaining high with a peak of 221 in 2009. Rising demand for new car models serves as a driver for the development of the industry... purchase to read more