China Motor Vehicles Market Growth And Forecast Report Up To 2018: Radiant Insights, Inc

The China motor vehicles market is expected to see a decline in growth over the forecast period (2013-2018). Growth of the market will directly impact the downstream subsidiaries such as aftermarket and automotive finishing industries.

San Francisco, United States - September 1, 2016 /MarketersMedia/ —

The China motor vehicles market is expected to see a decline in growth over the forecast period (2013-2018). Growth of the market will directly impact the downstream subsidiaries such as aftermarket and automotive finishing industries. Global automotive manufacturers had entered the Chinese market to capitalize on the huge population and consumer demand for foreign cars.

The market was hit by the financial crisis of 2009 and recorded the lowest its growth rate. It has reached a total of 1 million units as of 2015. It is segmented according to products and regions. Products include light trucks, mini trucks, medium trucks, passenger cars, mini buses, mini-vans, light buses, jeeps, heavy/large trucks, and medium buses. Among passenger cars, SUVs (special utility vehicle) will enjoy a good growth rate.

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The market also faces competition from used cars and cars which emit low pollution. This can be distinguished by different license plates and a time restriction for vehicle travel. Electric and hybrid vehicles are also threatening to usurp shares of the China motor vehicles market. Their number has reached over 2 million units. Bus sales have reached 300,000 units as of 2014. It will exhibit a CAGR above 10% during the forecast period. Trucks will enjoy a slow growth due to low inflow of infrastructural projects.

Telematic services will play a huge role in increasing the customer base of motor vehicles in the Chinese market. Consumers mostly rely on digital advertising to keep in touch with the latest cars. The second source most relied by consumers while choosing cars are recommendations of colleagues and friends.

Well-known manufacturers in the Chinese motor vehicles market are Chery (Qirui) Automobile Co., Ltd., First Automobile Works (FAW), Guangzhou Automobile Industry Group, and Jianghuai Automobile. Other brands include BYD Auto, Brilliance Auto, GM China, and Great Wall. Domestic players have gained a competitive advantage over their Western counterparts via advertising. Offering price cuts are a strategy adopted by these motor vehicle manufacturers as evident by price cuts of General Motors and Volkswagen AG.

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About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

For more information, please visit http://www.radiantinsights.com/research/motor-vehicles-markets-in-china

Contact Info:
Name: Michelle Thoras
Email: [email protected]
Organization: Radiant Insights, Inc
Address: 28 2nd Street, Suite 3036, San Francisco, CA 94105, United States
Phone: 1-415-349-0054

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