Automotive Market in China 2019

Automotive market is one of the fastest growing and competitive industries in China. It has become a leading industry in China's national economy and is playing a guiding and supporting role in the overall national economic situation. Rising personal income and increasing urbanization provides ample opportunity for players.

The report begins with an overview of the overall automotive market in China along with the growth and annual segment wise sales of the automobile market. It further delves into the various sub segments- passenger vehicles, commercial vehicles, motorcycles- two wheel and three wheels and their annual production and sales figures. The EXIM scenario gives an insight into total imports and total exports of Chinese Automotive Industry alongwith country-wise segmentation of imports and exports.

An analysis of the drivers influencing the industry growth includes China's huge population and low penetration, rising urban middle class income, growing luxury car market, auto dealers to open more outlets, improved public transport infrastructure and availability of low-cost skilled labour. The key challenges identified include unstable market position of manufacturers, overcapacity, restrictions imposed on car ownership, reduced prices led by intensified competition and high dependency on depleting oil reserves.

The key trends in the automotive industry of China include the government's keen interest in promoting alternative energy vehicles, increasing market share of the domestic OEMs and their expansion initiatives through mergers and acquisitions. The government policies have been highlighted and include the various support programs of the government 2009-10, 12th five-year plan of China (2011-2015) and government initiatives for electric vehicle market.

The competition section includes brief profiles of the major domestic and foreign players in the market. It also contains a snapshot of their corporation, their brands and business highlights, providing an insight into the existing competitive scenario. Key takeaways summarize the initiatives taken by the Chinese government amidst opportunities and challenges prevailing in the automotive market in China.