China’s automobile market is witnessing considerable growth primarily on the back of strongly growing luxury car and utility vehicle market, says RNCOS.
Noida, UP -- (SBWIRE) -- 10/25/2013 -- The Chinese automobile industry is witnessing significant growth over the past few years, making it the largest automobile market of the world. Despite current economic slowdown in the country, the industry is not facing downturn. Some of the prominent factors driving market growth include emerging middle class, rising income levels and large production base. Government initiatives, in particular, have been exceptional and are expected to be of utmost importance in the future as well. Thus, the automobile sale in China is expected to grow at a CAGR of more than 8% during 2013-2017.
Moreover, utility vehicles and luxury car market are growing at higher speed as compared to other segments. The changing demand pattern of Chinese consumers, increasing income levels and appetite for luxury lifestyle are the driving force for fast growth in these two segments. Other segments of China’s automobile industry, such as sedans and commercial vehicles including bus and truck market are also growing at a steady rate.
Research Analysis & Highlights
The report, “Booming Automobile Sector in China”, by RNCOS spread over in 135 pages provides detailed analysis of the Chinese automobile industry. After analyzing the industry thoroughly, the report provides production and sales forecast of overall industry, its segments and sub-segments till 2017. Moreover, in order to provide a complete snapshot of the industry, we have also identified the prevailing trends that are providing new direction to the industry. Lastly, major players of this industry have been covered with focus on their business overview, recent developments, strength & weakness analysis and financial overview.
Some of the key findings of the report are:
- Government is taking appropriate measures to enhance demand of green vehicles
- Growth of luxury car market is outpacing growth of other sedans
- China is the largest automobile market of the world in terms of both, production and sales
- Increasing demand of SUV and MPV leading to growth of the overall automobile market
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM623.htm
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- Passenger Carrier Market in China Outlook 2014 (http://www.rncos.com/Report/IM405.htm)
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.