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Chinese Passenger Car Market Remains Optimistic in 2009

www.shcri.com - Since 2009, Chinese automobile market has begun to restore in a certain degree. In 2009H1, production volume and sales volume of Chinese automobiles reached 5.9908 million and 6.0988 million, rising by 15.22% YOY and 17.69% YOY respectively. Production and sales volumes of passenger cars totaled 4.4189 million and 4.5338 million, growing by 20.96% and by 25.62% respectively.

 

In 2009H1, sales volume of Chinese self-owned passenger cars was 2.0549 million, accounting for 45.32% of the total sales volume. In China, sales volumes of Japanese passenger cars, German passenger cars, American ones, Korean ones and French ones were 939,500, 648,200, 426,000, 347,900 and 117,300, taking up 20.72%, 14.30%, 9.40%, 7.67% and 2.59% of the total sales volume respectively.

 

According to statistics of China Association of Automobile Manufacturers (CAAM), in July 2009, sales volume of Chinese passenger cars exceeded 800,000 with a significant YOY growth rate. From January to July, sales volume totaled approximately 5.4 million, rising by over 30% YOY. The decline rate of MPVs reduced and growth rates of other passenger cars increased. Sales volume of crossover passenger cars within the seven months exceeded that of the whole 2008, performing quite well.

 

In July, sales volume of passenger cars came up to 832,600, with the link relative ratio of -4.62% and the YOY growth rate of 70.54%. Sales volume of basic passenger cars (cars) was 601,500, with the link relative ratio of -6.10% and the YOY growth rate of 66.69%. Sales volume of MPVs reached 17,600, with the link relative ratio of -6.43% and the YOY growth rate of 19.68%. Sales volume of SUVs was 58,400, with the link relative ratio of 9.49% and the YOY growth rate of 60.94%. Sales volume of crossover passenger cars was 155,100, with the link relative ratio of 3.17% and the YOY growth rate of 103.08%.

 

From January to July, sales volume of passenger cars reached 5.3664 million, rising by 30.91% YOY. Sales volume of basic passenger cars (cars) was 3.8455 million, growing by 26.89% YOY. Sales volume of MPVs was 120,100, dropping by 4.75% YOY. Sales volume of SUVs was 312,000, increasing by 18.07% YOY. Sales volume of crossover passenger cars was 1.0906 million, rising by 59.90% YOY.

 

In the long run, Chinese GDP will remain an average annual growth rate of 8%-9% with the recovery of the global economy. Therefore, demands for automobiles will rise significantly since revenues will be enhanced. It is estimated that Chinese passenger vehicle market will grow at a very high rate since 2011.

 

Source: China Research and Intelligence

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Eileen Gu

China Research and Intelligence

shcri.com

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