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China Automobile Sector Forecast to 2012
China's automobile industry has been rapidly developing since 2000. Recently, at the starting of 2009, China has overtaken the US to become the largest automobile market in the world. Despite the impact of recession, country’s economy is growing steadily. Moreover, China has a vast consumer base with increasing disposable income and changing lifestyle and rapid development in road infrastructure, China has become a renowned name in the global automobile industry.
According to our latest study “China Automobile Sector Forecast to 2012”, China produced a total 9.3 Million vehicles in 2008, surpassing United States as the 2nd largest automobile maker, after Japan. The automobile production in China is expected to reach 16 Million Units by 2012, hitting a CAGR of around 17% during 2009-2012. Despite the ongoing financial crisis, China has also become the largest automobile market in the world, with total sale of 3.84 Million vehicles for the first four months of 2009. It is expected that China will surpass the United States and become the largest car market for the full year of 2009.
China is also making every possible effort to become the world’s leading producer of new energy vehicle. Chinese government has recently announced various incentives and subsidies to boost the new energy vehicle market and to become the world’s largest producer of electric cars in the next three years. After the announcement, various big players, including investor Warren Buffet, BMW and Toyota, and leading Chinese auto manufacturers like Chery Automobile and Geely Automobile, are entering or planning to enter the promising green vehicle market of China.
The report covers various aspects of the Chinese automobile market. It gives detailed analysis of the Chinese automobile market and its various segments including passenger vehicle, commercial vehicle, utility vehicles, two wheelers and auto component. Each section explains the current and future market trends, and developments in the Chinese automobile market. Our research forecasts immense opportunities for automobile manufacturers and players of automobile component industry in China.
Besides this, we have also comprehensively analyzed the alternative fuel vehicle industry in China and its future outlook. The study also evaluates the growth avenues available for the country’s automobile market, which include motor insurance industry, steel industry, used vehicle market, automotive electronic market, biofuel industry, etc.