The Chinese automotive industry is uniquely situated to become a centre for the best technologies. By Category, the Chinese automotive vehicles industry's principal categories include Electric Vehicle (EV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Mild Hybrid Electric Vehicle (MHEV), Natural Gas Vehicle (NGV), Fuel Cell Electric Vehicle (FCEV), Diesel Vehicle, Petrol Vehicle. In recent years, Electric vehicles (EV) and Mild Hybrid Electric vehicles (MHEV) have been very successful in China. In particular, due to the Chinese government's support and the cost-saving trend offered through buying an electric vehicle, which avoids the cost of purchasing a license plate, which is indeed a considerable saving.
China Automobile Market Size is expected to reach 39.78 Million Units by 2030
Notwithstanding, to stimulate the automotive market, the government policies are also helping the automotive industry in China. Therein, the government have launched some guidelines, and provinces have also released incentive schemes to promote the automotive sector. For instance, in 2020, Guangzhou announced a subsidy of 10,000 RMB for New Energy Vehicles sold between March and December. Additionally, a State-level contribution to New Energy Vehicles was extended until 2022.
In addition, the role of Chinese dealers is also evolving drastically. Independent dealerships are the backbone of the Chinese automotive retail commerce. Nearly all of the dealers use digital tools to support sales and marketing. Almost half of all the dealers' view digitization and developing an online presence as their top priority for investments in the coming years.
Joint Ventures account for Two-Thirds of the Passenger Car Market in China
The policies and regulations have recently formed unique automotive manufacturing with a mix of domestic automotive companies and joint ventures between domestic and foreign companies. Joint ventures with international automotive companies account for two-thirds of the passenger car market. Domestic brands mainly take up the rest. The major players are Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company.
COVID-19 devastating effect on Chinese Automotive Vehicle Inustry
COVID-19 overwhelmed significant burdens on the automotive industry in China. Wuhan, Hubei, is one of the critical development cities of the country's six major automobile industrial clusters where the outbreak started. Wuhan gathers many vehicle manufacturers and has more than 500 automobile parts enterprises that suffered adversely.
Hence, in the wake of the COVID-19 pandemic, the Chinese government has taken steps to buttress automobile consumption. These steps include postponing the China Six Emission Standard implementation, providing fiscal and taxation support, speeding up the elimination of obsolete diesel trucks, and optimizing automotive vehicle trading channels.
This report titled “China Automobile Market, By Category (Electric Vehicle (EV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Mild Hybrid Electric Vehicle (MHEV), Natural Gas Vehicle (NGV), Fuel Cell Electric Vehicle (FCEV), Diesel Vehicle, Petrol Vehicle), Company (Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company and Honda Motor Company) provides a detailed analysis of China Automotive Vehicle Market.
Category – China Automobile Volume have been covered from 8 viewpoints:
1. Electric Vehicle (EV)
2. Hybrid Electric Vehicle (HEV)
3. Plug-in Hybrid Electric Vehicle (PHEV)
4. Mild Hybrid Electric Vehicle (MHEV)
5. Natural Gas Vehicle (NGV)
6. Fuel Cell Electric Vehicle (FCEV)
7. Diesel Vehicle
8. Petrol Vehicle
Company Insights:
- Overview
- Recent Development & Strategies
- Financial Insights
Company Analysis:
1. Volkswagen
2. Toyota Motor Corporation
3. Daimler AG
4. Ford Motor Company
5. Honda Motor Company
Table of Contents
Companies Mentioned
- Volkswagen
- Toyota Motor Corporation
- Daimler AG
- Ford Motor Company
- Honda Motor Company
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 85 |
| Published | November 2021 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( Units | Units 27.71 Million |
| Forecasted Market Value ( Units | Units 39.78 Million |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | China |
| No. of Companies Mentioned | 5 |
