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 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... purchase to read more