Overview of China’s Automobile Industry

The automobile industry in China has exhibited strong growth in recent years amid China’s rapid economic growth, continuing urbanization and increasing levels of householdconsumption. According to the National Bureau of Statistics of China, in 2016, the automobilemanufacturing industry ranked third among the major industry sectors in China in terms ofrevenue generated from industrial enterprises whose principal business is automobilemanufacturing.

 

Passenger and Commercial Vehicle Market in China

Market Segmentation

There is no uniform standard used to classify the segments of China’s passenger and commercial vehicle market. China’s passenger and commercial vehicle market is divided into three segments based primarily on product origin, namely, domestic vehiclebrands, joint-venture vehicle brands and imported foreign vehicle brands. The substantialmajority of the market for passenger and commercial vehicles in China was represented byvehicles produced domestically in China, and almost equally occupied by joint venture vehicle brands (with a market share of approximately 48.3%) and purely domestic vehiclebrands (with a market share of approximately 48.0%) in terms of sales volume in 2016.Imported foreign vehicle brands ranked third and accounted for only approximately 3.7% of thetotal market in 2016.

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Sales of Domestically-Produced Passenger and Commercial Vehicles in China

Sales volume of domestically-produced passenger and commercial vehicles in China, including both domestic and joint-venture vehiclebrands, increased from 18.5 million in 2011 to 28.1 million in 2016, representing a CAGR of8.7%. Sales volume of such vehicles in China will continue toincrease to 39.3 million by 2021, representing a CAGR of 6.9% from 2016. This growth wasprimarily driven by sales of passenger vehicles which increased at a CAGR of 11.0% from 2011 to 2016 while sales of commercial vehicles decreased, which are expected to grow at a CAGR of 1.6% from 2016 to 2021, more than four times as fast as the commercial vehicle sales over the same period. The chart belowillustrates the historical and projected sales volume of domestically-produced passenger andcommercial vehicles in China from 2011 to 2021.

 

 

Company Share
DongFeng Motor Corporation (东风汽车公司) 15.1%
FAW Group (中国第一汽车集团) 11.1%
Chang’an Automobile Group (长安汽车集团) 9.6%
BAIC Group (北京汽车集团) 10.2%
GAC Group (广州汽车集团) 5.8%
Great Wall Motor Company (长城汽车股份有限公司) 3.8%
Geely Holding Group (吉利控股集团) 3.1%
Brilliance Auto Group (华晨汽车集团) 2.3%
JAC Motors (安徽江淮汽车集团) 2.3%
SAIC Motor Corporation (上海汽车集团股份有限公司) 23.1%
Others 13.5%

 

Industrial Vehicle Market in China

Industrial vehicles are designed and used to transport materials over variable paths with no restrictions on the area covered. Sales volume of industrial vehicle in China has experienced moderate fluctuations in recent years, and grew from 313,847 units in 2011 to 370,067 unitsin 2016, representing a CAGR of 3.4%.