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(USGovernment-News.Com, November 18, 2017 ) Global market intelligence firm, Publisher, Inc. released its latest report on the 'Automotive Market in China 2015'. Rising disposable incomes and China's love for automobiles is driving the market. Automotive market in China is currently the largest in the world, with the potential to grow further. The Chinese automotive market consists of the motorcycle segment and the four wheeler segment and is further divided into the used car market, luxury car market and the electronic vehicles market. These three segments are fuelling the growth of the overall automotive market in China. The markets have shown a tremendous growth potential, and are important contributors towards making the Chinese automotive market the largest in the world. The country's exports have also shown a favorable trend with domestic companies competing with the foreign auto makers in the international market. But the Chinese automakers have a long way to go when it comes to safety and technology. Another challenge faced but both domestic and foreign automakers are restriction imposed by the government on the number of cars in tier one cities. This has caused the auto makers to change their marketing strategy and shift their focus to tier three and below cities.
Electric vehicles are slowly gaining market in China with the government actively promoting the use of these cars to curb pollution in the major cities. But the market is still in its infancy stage due to lack of consumer interest and proper infrastructure. But given the drawbacks China's automotive market will grow in the coming decade as car ownership is still low in the country. And China will continue to dictate its supremacy as the largest automotive markets in the world.
Companies Mentioned: Public Companies 1. BYD Company Ltd. 2. Dongfeng Motor Group Company Ltd. 3. Geely Automobile Holdings Ltd. 4. Jiangling Motors Corporation, Ltd. 5. SAIC Motor Corporation Ltd.
Private Companies 1. Beijing Benz Automotive Co., Ltd. 2. Beijing Hyundai Motors Co., Ltd. 3. Changan Automobile Group Company Ltd. 4. Chery Automobile Co., Ltd. 5. China FAW Group Corporation
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