NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/06/15 - China’s passenger car sector is recording a sharp growth with rapidly advancing rate of car consumption. The market is projected to register impressive growth rates in the coming years.
As per a recent report “Passenger Car Market: A Global Review (2006)” published by RNCOS, it has been found that the burgeoning market demand for passenger cars has captured the interest of several big international carmakers who are planning to invest US$ 15 Billion in the sector by 2008. This will increase the car registration figure over 6710,000 units by 2010 in China at a CAGR of nearly 13.78% from 2007.
China is preparing to post a record growth in the ownership of cars. The country’s auto consumption is advancing rapidly with the growing increase in the sale of new vehicles.
Relative analysis in the quarter one of 2007 reveals that the listed auto companies’ gross margin was almost equal to the previous year’s margin. In future too, the growth in sales would rise for reasons like rapid growth in the country’s economy, lot of government initiatives and availability of loans for private car purchaser from car manufacturers and business houses.
Passenger car companies during the same period in 2006 were at the peak of industrial success. Presently, the passenger car industry has entered the phase of rapid growth. Insiders believe that in the projected five years, the rate of growth of the passenger car sales will perhaps continue at a level of not less than 25%.
Due to the vast growth opportunities available, the world's carmakers have identified China as the potential market over the next decade. Yet, the economy car industry is very competitive and the power of rivals is growing day-by-day.
As per the RNCOS report “Passenger Car Market: A Global Review (2006)”, despite the high earnings of the Chinese customers, car sales have been encouraged by declining prices and the convenience of car-financing agreements. It presents huge opportunities for international players in the country.
This research report also concentrates on some exciting issues for today’s international business environment, such as the performance of passenger car industry in the developed and developing world, importance of the industry for financiers, major challenges and driving forces in the passenger car industry, and the key players in the international passenger car industry etc.
The report presents broad research and focused analysis of the global passenger car market and helps clients in exploring the opportunities vital to the growth of the global passenger car market.
About RNCOS E-Services Pvt Ltd.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.