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Hier noch etwas: Zum Glück ist SAF in China aktiv ;_)
China Becomes World's Biggest Car Market
New report provides detailed analysis of the Automotive and Parts market
Published on February 18, 2010
by Press Office
(Companiesandmarkets.com and OfficialWire)
LONDON, ENGLAND
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China fulfilled industry expectations to become the world's biggest car market in 2009, overtaking the US by a significant margin. The China Association of Automobile Manufacturers (CAAM) reported total vehicle sales of 13.64mn units in 2009, up 46.15% from 9.4mn the previous year. Although US data, showing sales of 10.43mn units, includes only light vehicles, China's heavy trucks account for just 650,000 units. Removing them from the equation still leaves China ahead by over 2mn units. While the extension of government incentives should make for another year of healthy sales, we do not expect the same level of growth to be sustained in 2010. We expect more restrained growth of around 12%, to 15.3mn units, as a natural cooling off period will follow such a high.
As a result of the surge in sales, several carmakers in China are planning capacity expansion, which has fuelled concerns of overcapacity when sales growth slows. The government has urged consolidation, particularly among domestic producers, to avoid such a glut, while we expect exports to rise by more than 16% this year, partly as a result of added capacity. Although installed capacity continues to grow, we forecast that total vehicle sales growth will slow by an annual average of 1% over the next five years, meaning growth in actual output required to meet demand will also be lower, falling to below 10% by 2014.
China stays in second place in our Business Environment Ratings for the automotive industry in Asia Pacific, with an overall score of 67.7 from a possible 100. The market's highest scores are still for its production and sales growth potential, based on our forecasts up to 2014, although we do expect the market's growth to slow from the 2009 pace. However, even though a low level of vehicle ownership can look tempting in terms of possible growth, the low score for country structure (caused by the large gap that exists between wealthy towns and poorer rural areas) acts as a clear restriction on potential penetration. In terms of China's macroeconomic environment, a healthy long-term political and economic outlook ensures strong scores for the country's risks to realisation of returns.
Carmakers have been buoyed by China's 2009 performance. This is particularly true of US and European carmakers that have suffered in their domestic markets. General Motors Company reported growth of 66.9%, to 1.83mn units, for its combined Chinese operations. Ford Motor and its partners achieved growth of 44%, to more than 440,000 units. Volkswagen recorded growth of 36.7%, to achieve record total sales of 1.4mn units through its local operations. The market's growth is likely to be sustained to some extent as the government announced in December 2009 that not only will the incentives be carried on for a longer period than initially intended, but they will be extended to cover all passenger cars rather than just those with engines under 1.6-litres.
Hier noch etwas: Zum Glück ist SAF in China aktiv ;_)
China Becomes World's Biggest Car Market
New report provides detailed analysis of the Automotive and Parts market
Published on February 18, 2010
by Press Office
(Companiesandmarkets.com and OfficialWire)
LONDON, ENGLAND
§Re-Tweet this article
China fulfilled industry expectations to become the world's biggest car market in 2009, overtaking the US by a significant margin. The China Association of Automobile Manufacturers (CAAM) reported total vehicle sales of 13.64mn units in 2009, up 46.15% from 9.4mn the previous year. Although US data, showing sales of 10.43mn units, includes only light vehicles, China's heavy trucks account for just 650,000 units. Removing them from the equation still leaves China ahead by over 2mn units. While the extension of government incentives should make for another year of healthy sales, we do not expect the same level of growth to be sustained in 2010. We expect more restrained growth of around 12%, to 15.3mn units, as a natural cooling off period will follow such a high.
As a result of the surge in sales, several carmakers in China are planning capacity expansion, which has fuelled concerns of overcapacity when sales growth slows. The government has urged consolidation, particularly among domestic producers, to avoid such a glut, while we expect exports to rise by more than 16% this year, partly as a result of added capacity. Although installed capacity continues to grow, we forecast that total vehicle sales growth will slow by an annual average of 1% over the next five years, meaning growth in actual output required to meet demand will also be lower, falling to below 10% by 2014.
China stays in second place in our Business Environment Ratings for the automotive industry in Asia Pacific, with an overall score of 67.7 from a possible 100. The market's highest scores are still for its production and sales growth potential, based on our forecasts up to 2014, although we do expect the market's growth to slow from the 2009 pace. However, even though a low level of vehicle ownership can look tempting in terms of possible growth, the low score for country structure (caused by the large gap that exists between wealthy towns and poorer rural areas) acts as a clear restriction on potential penetration. In terms of China's macroeconomic environment, a healthy long-term political and economic outlook ensures strong scores for the country's risks to realisation of returns.
Carmakers have been buoyed by China's 2009 performance. This is particularly true of US and European carmakers that have suffered in their domestic markets. General Motors Company reported growth of 66.9%, to 1.83mn units, for its combined Chinese operations. Ford Motor and its partners achieved growth of 44%, to more than 440,000 units. Volkswagen recorded growth of 36.7%, to achieve record total sales of 1.4mn units through its local operations. The market's growth is likely to be sustained to some extent as the government announced in December 2009 that not only will the incentives be carried on for a longer period than initially intended, but they will be extended to cover all passenger cars rather than just those with engines under 1.6-litres.
