Noida, UP -- (SBWIRE) -- 05/13/2014 -- SUVs and MPVs are becoming immensely popular in the Chinese market, due to an increase in the per capita income of people and the level of comfort provided by bigger vehicles. Further, even manufacturers prefer to produce SUVs as they are treated more leniently by government rules on fuel efficiency and emissions, which makes them less expensive to produce. According to a new report by RNCOS, “Booming Automobile Sector in China”, manufacturers are focusing on meeting the above demand by incorporating new innovations in the SUV and MPV segments along with increasing their production.
According to the report, with the rampant economic development in the country, the per capita income of the people and hence their desires are expected to increase in the future, thus further propelling the demand for bigger cars like SUVs and MPVs. In lieu of above, various manufacturers are introducing new models in the market. Further, global manufacturers are also modifying their offerings to meet the norms of the Chinese automobile market by redesigning SUVs for China with smaller engines in response to government taxes based on engine size. Thus, an extensive push on the part of both domestic and foreign manufacturers is set to propel growth in the SUV and MPV segment and hence the automobile industry in the Chinese market.
The report provides a 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, the report highlights 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.
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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.