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A Guide to China's Auto Industry

Date:10-10-2013

China is fast emerging as the largest car market in the world. Since the early 90s, the industry has grown rapidly and within a decade China was manufacturing more than two million vehicles annually. With China’s admission to the WTO (World Trade Organization) in 2001, the automobile market have seen tremendous growth, both in terms of sales and production. An interesting fact about China’s phenomenal growth in the automobile industry is that that since 2009 the annual production of automobiles in China surpasses that of US and Japan combined.

 

According to International Organization of Motor Vehicle Manufacturers (OICA), a Paris based trade body; the global automobile sale this year is expected to increase by 3 percent. According to analyst there is a great potential for growth in the Chinese auto industry and sales are expected to rise, despite the current economic slowdown.

 

Automobile Manufacturers in China

 

China has both domestic and foreign car manufacturers. Domestic automobile manufacturers in China include BYD, Geely, Foton, Jonway, Hafei, SAIC Motor, Roewe, Dongfeng Motors, Chery, Great Wall Motors, etc. These domestic manufacturers make up to 44.3% of the total automobile production in China. The rest of the automobiles are produced by foreign car manufacturers like Volkswagen, Nissan, Hyundai, Mazda, General Motors, Mitsubishi, etc. Of these foreign car manufacturers, the General Motors is the largest foreign car maker in the Chinese market (according to 2012 reports).

 

The growth in the automobile industry is spurring growth in allied industries such as automotive parts, after-sales services and auto-care products. In recent years, China has expanded research and development in the fields of fuel-efficient vehicles, particularly electric vehicles, alternate fuel vehicles and hybrid vehicles. Swift rate of economic growth and development and increase in per capita income will lead further expansion in the Chinese automobile industry.

 

Know more about the Chinese Automobile Industry and explore Automotive & Transportation Industry Research Reports at http://www.chinamarketresearchreports.com/cat/automotive-transportation.html .

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