2016 China Market Overview - Automobile
English
In recent years, China was undergoing automobile market slump, with lower growth rate and price. Moreover, experts estimated that this trend would continue in next few years. Chinese government has placed great emphasis on new energy vehicle to control environmental pollution. A series of favorable policies released by the government have improved the production and sales of new energy cars.
Summary
- In recent years, China was undergoing automobile market slump, with lower growth rate and price. Moreover, experts estimated that this trend would continue in next few years.
- The restriction of vehicle purchasing and auto licenses, along with bus reform and auto market saturation, were the main reasons for the weak auto market.
- Though the whole auto industry was in depression, auto parts manufacturers performed well and steadily with the fuel from the Internet.
- Chinese government has placed great emphasis on new energy vehicle to control environmental pollution. A series of favorable policies released by the government have improved the production and sales of new energy cars, including high subsidies on purchase tax, no odd-even car ban, and no restriction for auto licenses.
- The elimination of yellow-label cars (Cars that failed to meet fuel standards) and the replacement of old cars also had some effects on the upgrade of vehicle consumption in China.
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