NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/06/19 - Last year (2006), auto sales in China had touched a mark of 7.22 million and it’s expected to further increase and hit a record high of 8.5 million this year.
As per RNCOS report on “China Automobile Industry Forecast (2006-2010)” it has been found that Chinese auto industry’s sales had touched 7.22 million mark last year (2006), 25% up from previous year (2005). The country overtook Japan to become the second largest auto market in world.
Both sales and auto output in China are expected to reach a record high of 8.5 million units in 2007, told the sources with CAAM (China Association of Automobile Manufacturers), as reported by ce.cn on May 16, 2007. Slashed car prices, and increased spending power are expected to uphold the expansion of market scale. Furthermore, rapidly increasing investment in Chinese road transportation facilities as well as urban infrastructure, combined with steady implementation of govt. policies’ encouraging consumption of car, will likely contribute to car ownership growth in near future.
Integration and leading enterprises remain the prominent themes of interest in the auto-parts industry. Through several years of expansion and growth, auto-parts industry in China is improving its position. There’s been a notable improvement in the manufacturing level of this industry.
Sales as well as output in the auto making industry in China grew rapidly during the year 2006. During the period between January to April 2007, auto output in the country increased 21.4% to reach 3.01 million units, whereas sales grew 21.5% to reach 2.93 million, as per CAAM figures. The top ten registered the sales of 2.44 million vehicles – domestic market’s 83% share - during this period.
According to RNCOS report “China Automobile Industry Forecast (2006-2010)”, “Automotive industry in China is emerging as a major player in the international competitive landscape, from demand as well as supply perspective. During 2006, automakers in China manufactured 7.28 million vehicles, 27.32% up from previous year, and earned approximately US$10 Billion in profit.
The report further provides extensive research and objective analysis of the Automobile Industry in China. This report helps clients in analyzing the opportunities critical to the growth of the Automobile Industry in China. Key issues and facts analyzed in this report include: demand and supply analysis of China’s auto industry, key players in the China auto industry, opportunities for the players to exist in the Chinese auto market, etc.
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.