A new Automotive World report looks at the prospects for the light vehicle (LV) and heavy commercial vehicle (HV) sectors in China in 2019 and through to 2023.
In 2018, China’s light vehicle (LV, <6t GVW) market fell to 27.6 million units. This expected downturn followed a period of growth which had led to a doubling of the market since 2010. There was also a decline in heavy vehicle (HV, >6t GVW) sales in 2018 which took the market down from its 2017 peak to 1.47 million units. Note that this was still the HV market’s second-highest ever level.
“At the time of writing, vehicle sales in China have fallen for seven consecutive months and we anticipate at least another couple of year-on-year declines in the monthly data,” said report author Jonathan Storey. “While this has generated many gloomy headlines, we characterise it as a mild decline in a market which is maturing, but still expected to trend upwards—soon exceeding 30 million units.”
‘China’s new vehicle market: prospects to 2023’ anticipates flat demand for light vehicles in 2019, with gentle growth over the forecast period to a total that exceeds 30 million units. The outlook for the truck market anticipates decline followed by recovery towards the end of the five years covered by this report.
China is the latest market to be covered in Automotive World’s five-year market outlook series.
Table of contents
- Executive summary
- Chapter 1: Economic outlook
- Chapter 2: Recent light vehicle (LV) demand
- Chapter 3: LV market characteristics
- Chapter 4: LV market shares
- Chapter 5: Outlook for LV demand
- Chapter 6: China’s heavy vehicle (HV) market
- Chapter 7: Outlook for HV demand
- Appendix (Excel)
- Historic vehicle sales by OEM group and brand (2014-2018)
- Vehicle sales forecasts by OEM group and brand (2019-2023)
INFO
Automotive World subscribers can access the report by following this link: https://www.automotiveworld.com/research/chinas-new-vehicle-market-prospects-to-2023/
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