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Analysis Report on Development Trend of China Vehicular Electronic Product Market
Sunfaith China Ltd, Aug 2007, Pages: 8
Executive Summary
Thanks to the skyrocketing economy and obvious improvement of living standard, the demand for autos in China is expanding, intriguing the swift development of China auto industry. Based on the anticipation from China Automobile Industry Association, the production volume of autos in 2007 will reach 8.5 million. Following the swift development of China auto industry in 2006, the China auto electronic products grow fast, reaching RMB 86.76 billion by sales value, a year-on-year increase of 40%. The auto electronic products can be divided into two parts on the basis of application structure: one is auto electronic control device, the other is auto vehicular electronic product. The sales value of auto vehicular electronic products merely occupies 17% of total sales value of auto electronic products. However, China auto vehicular electronic product market is still in the initial stage, laying far behind the developed countries, so it has great market potentials. Some auto vehicular electronic products including GPS navigation instrument, auto audio, reversing radar have taken some market share but the popularizing rate is still low. It is anticipated the market space is large.
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