Burgeoning Passenger Vehicles Industry in China: Ken Research

Ken Research has announced its distribution on, “China Passenger Vehicle Industry Overview, 2017-2021” which provides:

  • Reasons for developing environment of Passenger Vehicle Industry in China
  • Analysis on Supply and Demand in Passenger Vehicle Industry in China
  • Major Sales Channels of Passenger Vehicles in China
  • Import and Export of Passenger Vehicles in China
  • Competition in China Passenger Vehicle Industry
  • Major Driving Forces and Market Opportunities in Passenger Vehicle Industry in China, 2017-2021
  • Threats and Challenges in Passenger Vehicle Industry in China, 2017-2021
  • Forecast on Supply and Demand of Passenger Vehicle Industry in China, 2017-2021

INDUSTRY OUTLOOK

  • Passenger vehicles are formed with technical properties for carrying passengers together with their luggage and temporary belongings with not more than nine seats including the driver seat and are further categorized into basic passenger vehicles (sedans), multi-purpose vehicles (MPV), sports utility vehicles (SUV), special purpose passenger vehicles and cross passenger vehicles.
  • Chinese passenger vehicle manufacturers can be divided into independent brands, join-venture brands and foreign brands. Foreign brands target at the high-end market; join-venture brands are joint ventures between large state-owned enterprises and foreign enterprises; and independent brands are either large state-owned enterprises or private enterprises.
  • The passenger vehicle manufacturing industry is under stern regulation of Chinese government. There is a harsh examination and approval system where Chinese government strictly examines and approves investment projects of whole passenger vehicles and vehicle engines and also there is a strict catalogue system. There are polices regulating technologies in the industry for example, it puts emphasis on economical sedans that are in accordance to national safety, energy efficiency and emission standards and personal vehicle demands.
  • Gasoline motors are expected to reach Euro III or China IV emission standards and along with moderate development of sedan diesel engines, single-fuel combustion engines and hybrid engine systems is also encouraged recently and forecasted to grow well in the future years.
  • In 2015, automobile consumption was gloomy and the automobile market stepped into a downturn and for augmenting the sales volume of domestic automobiles, the State Council issued the preferential purchase tax policy which provided a 50% discount on purchase tax of automobile of 1.6 liter and below. The policy became effective on October 1, 2015 and lasted until December 31, 2016 and after the implementation of the policy, the Chinese automobile market was very hot and it is further expected to maintain this position and develop well in the coming years.
  • In China’s passenger vehicle market, the competition is seen majorly among independent brands and joint-venture brands. In 2016, leading enterprises in the passenger vehicle industry in China were SAIC Volkswagen Automotive Co., Ltd., SAIC-GM-Wuling Automobile Co., Ltd., SAIC General Motors Co., Litd., FAW-Volkswagen Automobile Co., Ltd., Chongqing Changan Automobile Co., Ltd., etc.
  • In 2016, the output volume and sales volume of passenger vehicles in China were recorded as 24.421 million and 24.377 million, increasing by 15.5% and 14.9% over 2015, respectively. The growth rates were 1 percentage point and 1.2 percentage points, which were higher than that of the overall output volume and sales volume of automobiles.
  • Category wise, the sales volume of sedans were 12.15 million, increasing by 3.4%; that of SUVs were 9.047 million, rising by 44.6%; that of MPVs were 2.497 million, ascending by 18.4% ; that of cross passenger vehicles were 684,000, decreasing by 37.8% in 2016.
  • Affected by the preferential purchase tax policy, in 2016, the sales volume of passenger vehicles of 1.6 liter and below was reckoned as 17.607 million, rising by 21.4% over 2015 and accounted for 72.2% of the total sales volume of passenger vehicles.
  • In 2016, 10.529 million Chinese brand passenger vehicles were sold, increasing by 20.5% and reckoned for 43.2% of total passenger vehicle sales volume. The share increased by 2 percentage points over 2015.
  • The volume of sedan sold was 2.34 million and its market share was 19.3%, down by 3.7% and 1.4% YOY, respectively; the sales volume of SUV was 5.268 million and its market share was 58.2%, up by 57.6% and 4.8%YOY, respectively; the sales volume of MPV was 2.238 million and the market share was 89.6%, up by 19.9% and 1.2% YOY, respectively.
  • Overall, the passenger vehicles production and demand in the Chinese market is likely to keep on ameliorating year after year as can be seen by the facts recorded in the report.

Topics Covered in the report

  • China Passenger Vehicle Industry Research,
  • Passenger Vehicle Market China,
  • China Automobile Industry Research,
  • China Automobile sector Future Outlook,
  • China Passenger Vehicle Sales Volume,
  • Passenger Vehicle production China,
  • Passenger Vehicle Demand China,
  • China Passenger Vehicle Industry growth,
  • China Passenger Vehicle Industry trends,
  • China Passenger Vehicle Industry analysis,
  • China Passenger Vehicle Industry,

For more coverage click on the link below:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/china-passenger-vehicle-industry-overview/81318-100.html

Related links:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/understanding-the-vehicle-battery-aftermarket-in-the-european-emerging-markets/4748-100.html

https://www.kenresearch.com/defense-and-security/weapon/global-armored-vehicles/23731-16.html

Contact:

Ken Research

Ankur Gupta,

Head Marketing & Communications

query@kenresearch.com

+91-124- 4230204

www.kenresearch.com

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