China to Cross 10 Million Automobile Production Mark in 2009

RNCOS, a leading industry research firm for major industry sectors, has recently released a new report “China Automobile Sector Forecast to 2012” showing that despite the global economic slowdown and recession which hit the automobile industry hardest, Chinese automobile industry is posting impressive growth. Sales of China’s domestically manufactured vehicles set a record high of 1.153 Million Units in April, up 25% from a year earlier.

China has overtaken the US in the beginning of the current year to become the largest automobile market in the world. In China, as per our research, there were around 22 passenger cars for per 1,000 population in 2008, which was quiet low as compared to developed countries like the US and Japan. This indicates high growth potential in the Chinese automobile sector.

Further, as per the report, new energy vehicles, like hybrid-electric and electric vehicles, are also expected to see a big boost in Chinese automobile market due to various government initiatives. Many domestic and foreign players are also making huge investments in this segment, which will further boost the industry.

“China Automobile Sector Forecast to 2012” contains an extensive research and in-depth analysis of Chinese automobile industry. It gives detailed analysis of the Chinese automobile market and its various segments including passenger vehicle, commercial vehicle, utility vehicles, two-wheelers and auto component. Each section explains the current and future market trends, and developments in the Chinese automobile market. It also comprehensively analyzes the alternative fuel vehicle industry in China as well as its future outlook. The study also evaluates the growth avenues available for the country’s automobile market, which include motor insurance industry, steel industry, used vehicle market, automotive electronic market, biofuel industry, etc.

The report provides past and current information on the Chinese automobile industry with forecast on various important industry aspects, including China’s share in global automobile production, automobile production, passenger car stock, commercial vehicles production, motorcycle production, motor insurance premium income, automotive electronics market and ethanol consumption.

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