Automobile Manufacturing in China Industry Research Report Now Available from IBISWorld
San Francisco, CA (PRWEB) January 19, 2013
Revenue for the Automobile Manufacturing industry in China is expected to total $440.2 billion in 2012, says IBISWorld. Industry revenue has been increasing at an annualized rate of 20.3% during the past five years, driven by rising domestic demand across urban and rural areas, and increasing exports.
As household income levels increased in China, and as vehicle prices are competitive, more people have been able to purchase their own vehicles, particularly in China's large cities. In addition, a series of favorable government policies have spurred growth, including reduced purchase fees for new cars, subsidies for car-buyers buyers in rural areas and for car owners replacing old cars with new ones, according to IBISWorld.
The top four auto manufacturers (Shanghai Automotive, FAW, Dongfeng and ChangAn) account for just over half of industry revenue in 2012. This represents a medium-to-high level of industry concentration, with no one firm totally dominating the Automobile Manufacturing industry.