China’s light vehicle market will grow to 25 million units by 2020, according to a new Automotive World report.
‘China’s new vehicle market: Prospects to 2020’ (https://www.automotiveworld.com/research/chinas-new-vehicle-market-prospects-2020/) examines the prospects for new vehicle sales in China in the years to 2020, and predicts a market of 25 million light vehicles (LV) , and 1.6 million heavy commercial vehicles by the end of the forecast period.
Available exclusively to Automotive World subscribers, ‘China’s new vehicle market: Prospects to 2020’ (https://www.automotiveworld.com/research/chinas-new-vehicle-market-prospects-2020/) is available to download from the research section of AutomotiveWorld.com. The report builds on macro-economic indicators and automotive industry data to outline the reasons behind the positive outlook for China’s LV and HCV markets over the period to 2020.
Covering recent LV and HCV demand, market characteristics, shares, economic outlook and more, this May 2016 report shows that in spite of China’s rate of economic growth having slowed to 6.9% in 2015 and being forecast to remain close to 6% in the years to 2020, LV demand is predicted to rise to 25 million units by 2020; the HCV market is expected to recover in 2016, before rising to over 1.6 million units in the later years of the forecast.
Report author, Jonathan Storey, said: “The Chinese market is particularly complex in forecasting terms, with over 160 light vehicle brands currently. In our view, a shakeout of the industry structure continues to look not only likely, but overdue. However, the previously observed trend for most domestic brands to lose share was at least partially reversed in 2015 as several domestic brands made significant gains, mostly due to favourable government interventions.”
Table of contents
- Executive summary
- Recent light vehicle (LV) demand
- Market characteristics (Ownership levels, Segments, Distribution of LV sales, Vehicle finance)
- Market shares
- Economic outlook
- Outlook for light vehicle (LV) demand
- China’s heavy commercial vehicle (HCV) market
- Outlook for heavy commercial vehicle (HCV) demand
- Appendix (Excel)
- o Historic vehicle sales by OEM group and brand (2010-2015)
- o Vehicle sales forecasts by OEM group and brand (2016-2020)
Automotive World subscribers can access the report by following this link: https://www.automotiveworld.com/research/chinas-new-vehicle-market-prospects-2020/
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