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back to index backASIAtalk November,  2016


The Chinese Automotive Industry – Opportunities in Diversity

China is now the largest single market for light duty vehicles, such as cars, light trucks, and sport utility vehicles. Speaking at a University of Michigan Transportation Research Institute sponsored conference titled Inside China: Understanding China’s Current and Future Automotive Industry,” Mike Jackson, a senior executive of IHS Markit, said that there were over 25 million such vehicles sold in China in 2016. The market could easily top 30 million units by 2021. In part, that will be spurred by the rapid growth in Chinese Gross Domestic Product, or GDP. The economy is currently expanding at an astounding 6.5% rate, according to Jackson’s data, easily supporting the growth of car-owning public

Compare this to the typical North America market of 15 million vehicles, more or less depending on the year, with little overall projected growth and you can see the opportunity available for those wishing to do business in the country.

To read entire article, please click here.

Source: AdvancedManufacturing.org - GAI





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