| Automakers Compete for Market Share in China |
| Friday,April 06,2007 Posted: 10:02 BJT(0202 GMT) MOFCOM |
In 2006, China's car sales surged by 35%, and surpassed Japan and became the world's second largest automobile market. At the beginning of the 21st century, China's car sales were only 500,000 units, which soared to 3.8 million in 2006. Within one year, it realized an increase of 1 million units. Volkswagen and General Motors are the two leading automakers in China's automobile market today. These two automotive giants enjoy the most popularity among all auto brands currently, but at the same time, they are also facing major challenges from both Japan and China automotive companies to retain their competitive edges. Despite the decrease in market share in 2006, Honda is still on top against all other Japanese car producers with a market share of 7.6%, while Toyota continues to see a major growth in sales. Over the last year, Toyota's market share went up by 2.3 percentage points to 7.6%. With five manufacturing plants in China already, Toyota plans to build more manufacturing sites in 2007, and expects to increase car production output to 690,000 units per year. Other multinational carmakers that just started in China include Ford, PSA Peugeot Citroen and so on. During last year, ford's car sales in China doubled to 131,000 units while Peugeot also realized a 43% growth in sales, which amounted to 201,000 units. Fiat experienced a difficult year with only 31,300 units, down by 13% over the previous year. Meanwhile Korean automaker Kia enjoyed a 5% increase in car sales, which totaled 115,000 units. In 2006, China's automobile manufacturers attained 26.4% of market share, behind only Japanese vehicle producers. Chery from Anhui Province has become China’s fourth largest auto manufacturing company with an annual sales over 300,000 units. Challenged by Japanese and Chinese car manufacturing companies, the leading auto makers Volkswagen and General Motors have adopted and implemented responding measures to retain their leading positions. (Source: Chinese Version of MOFCOM) (Translated by Network Center of MOFCOM) |
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