The Chinese market remains strong in the the first half of 2014
- The Chinese market (PC + LCV) remains strong in the first half of 2014, since it increased by 8.4% over this period, reaching 11.68 million vehicles, against 10.78 million recorded in the first half of 2013.
- Since 2011, the growth pattern seems to be accelerating, since it was only 2.7% in 2011 compared to 2010, 4.2% in 2012 compared to 2011, 6.1% in 2013 compared to 2012 and will probably be of 7.5% throughout 2014 compared to 2013. The year should end with a level close to 22 million vehicles sold in China, which represent more than a quarter of world wide sales.
- There now are no signs of slowing down or of a future slowdown (until 2020) of the Chinese automobile market . Car ownership is still very low, especially in western provinces of the country, that registered more important growth than eastern provinces.
- By manufacturer, Ford increased the most over the six aggregate months of 2014 (+39%), followed by PSA (+27.5%), Volkswagen (+18%), Honda (+17%), Changan (+ 16%) and GM (+12.5%). Declining carmakers are all independent ones: Geely (-27.5%), Brilliance (-26.5%), FAW (-26%), JAC (-21.5%), BYD (-20.5% ), Lifan (-12.5%), Chery (-11%), Great Wall (-6%) and MG-Roewe (-3%). The objectives set by the Chinese government are very far from being reached.
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