A new report published by Automotive World examines the market prospects for light vehicles (LVs) and heavy vehicles (HVs) in China in the period to 2022.
‘China’s new vehicle market: Prospects to 2022’ (https://www.automotiveworld.com/data/chinas-new-vehicle-market-prospects-2022) is available to download now from the research section of AutomotiveWorld.com.
A new report published by Automotive World examines the market prospects for light vehicles (LVs) and heavy vehicles (HVs) in China in the period to 2022.
In 2017, China’s light vehicle (LV) market rose by 2.3% or 0.63 million vehicles to a record 27.6 million units. although positive, this rate was the slowest growth in over a decade. Heavy vehicle (HV, >6t GVW) sales grew substantially in 2017, rising by 32% to a new peak of 1.52 million units.
In 2018, GDP growth is set to fall below 2017 levels, and the light and heavy markets are expected to slow before picking up later in the forecast period.
Commenting on the report, the author, Jonathan Storey, said: “Growth in China’s light vehicle market in 2017 was the slowest in over a decade, as forecast in previous versions of this report. However, it’s important to give such a slowdown some context. The Chinese car market has doubled since 2010, and even a 1% change in demand is equivalent to a car market the size of Denmark or Portugal. China is a maturing market, and car market growth will be slower than we have seen in recent years, but in unit terms, growth will still be in the high hundreds of thousands.”
This exclusive Automotive World report looks at the prospects for the LV and HV sectors in China in 2018 and in the five years to 2022.
Further information
Automotive World subscribers can access the report by following this link:
https://www.automotiveworld.com/data/chinas-new-vehicle-market-prospects-2022
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