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Car market performance: Increased operational risks along with a continued drop of growth speed (No 20, 2015)
2015-04-07
By Wang Qing, Task Group on "Dynamic Analysis of Market Performance in China", Institute of Market Economy of DRC
Research Report No 20, 2015 (Total 4705)
Abstract:
In 2014, China's car market witnessed a transition from high to medium-high growth speed, dropped evidently compared to last year. The sales volume for domestic car that year is 23.4919 million, increasing by 6.9% year on year. The number of passenger cars and car possession per thousand person reached about 0.145 billion and 106 respectively. Viewing from the operational situation in the car market in 2014, the potential market risk is not released sharply and the contradictions accumulated in the circulation sector, in particular, have sharpened, causing potential risks and uncertainties to the market. The predicted sales volume of domestic car in 2015 is about 24.25 million to 24.66 million, up by 3.4%-5.0% year on year, while the number of car possession per thousand people is about 118, an increase of 11%-12% compared to last year. With the continued drop of growth speed, previous problems and contradictions concealed by the high increase will all emerge in a short term during the mid-term adjustment of car industry in the car market. In order to achieve the smooth and sound car market development, the relevant policy should still focus on solving the main contradictions in the field of supply, consumption, circulation and supervision.
