China became the world’s second largest car producer after Japan in 2007 by overtaking Germany, says our new research report, “China Automobile Sector to 2010â€. The production of passenger cars in the country is estimated to have crossed 7 Million Units by 2008.
As per the research, passenger cars stock in China during 2004-2007 was very low in comparison to consumer purchasing power that was increasing rapidly. As a result, many international automobile players found Chinese automobile market attractive for investment.
The aspirations of buying passenger car in new working and middle-class population increased substantially with rise in average per head disposable income that surged by over 116% between 2001 and 2006. Consequently, the sale of passenger cars witnessed an impressive annual growth of nearly 22% during 2006-2007. Moreover, the affluent households are giving priority to personal vehicles for transportation, helping the auto industry to roll ahead, says the report.
The Chinese automobile industry is expected to continue witnessing growth in the next couple of years on account of changing lifestyle in tier 1 and 2 cities along with growing importance of transportation mode. Thus, manufacturers are likely to see high production scenario in coming years amidst the rising demand in the domestic market.
Passenger car is just a segment covered in “China Automobile Sector to 2010â€. The research also provides extensive statistical data and rational analysis on commercial vehicles, LCVs, trucks, two-wheelers etc. It thoroughly discusses the rapidly growing automobile industry, key players and past trends that enable investors to evaluate opportunities for growth and plan their strategies accordingly. The report also gives information on future prospects, challenges, growth areas, and demand and supply.
The RNCOS study further provides forecast on important aspects of the industry, including premium from passenger cars, auto steel demand, automobile production structure, automobile production, passenger car stock, passenger car sales, sports utility vehicle sales and commercial vehicle sales.
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