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Automotive Report China 2nd Quarter

  • ID: 2142798
  • Report
  • Region: China
  • 13 Pages
  • The Economist Intelligence Unit
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China overtook the US as the world's largest vehicle market in 2008, amid the global financial crisis. It has now pulled far ahead, with nearly 29m vehicles sold last year. However, China's market showed signs of having reached maturity in 2018, with vehicle output and sales declining for the first time in 15 years. Production fell by 4.2% to 27.8m units, while vehicle sales fell by 3.3% to 28m units, according to the China Association of Automobile Manufacturers (CAAM).

Demand has been hit by market saturation, the abundance of used vehicles on offer and US-China trade tensions. China cut tariffs on most imported cars from mid-2018 but placed tariffs on US auto imports, in retaliation for a US decision to raise tariffs on Chinese imports. China suspended these duties in December 2018-and again on April 1st 2019-amid ongoing trade negotiations, but the US maintained its tariffs on China.

New-energy vehicles (NEVs) were the sole bright spot in the sector in 2018, with production and sales up by around 60%. China aims to phase out all non-electric vehicles by an unspecified date. In January 2019 the government banned new players from entering the fossil-fuel market, and set stringent conditions for existing automakers wishing to expand their fossil-fuel capacity, based on their investment in NEVs. However it also intends to lift limits on foreign ownership of commercial vehicle (CV) producers from 2020 and car producers from 2022.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles, Automotive, Production
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Note: Product cover images may vary from those shown
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Automotive Report China 2nd Quarter

Automotive report: Overview

Automotive report: Passenger cars

Automotive report: Commercial and other vehicles

Automotive report: Production

Automotive report: Fuel sources
Note: Product cover images may vary from those shown
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