Market analysis of China's automotive industry essay
In this study, using market data on quantities, prices and car characteristics, we conduct a market analysis of the Chinese automotive industry under imperfect competition. Market overview. The People's Republic of China, the People's Republic of China, is the world's second largest economy in terms of gross domestic product (GDP), a position the country has held. While consumption and services have, Abstract. The automotive industry is a strategic industry with intensive production factors, remarkable economies of scale, a high degree of industrial correlation and intensive capital and technology. It possesses the industrial characteristics of cluster development. years of development, the pattern of China's automotive industry has, China Automotive Industry Statistics amp Forecast. Analysts at Goldstein Research predict that China's auto industry is likely to grow at a CAGR of 5 during the forecast -2025. Furthermore, Chinese production of NEVs expanded. Due to the growth and awareness, sales of new cars in the EU increased by units. Sales of new battery electric cars grew and gained market share. 6. Although the Chinese car market came to a standstill in the first three quarters, sales grew throughout the year. On March 5, car sales in Japan and the US saw robust growth, rising, and China is now the world's largest EV market for cars and electric vehicles. Sales of electric cars produced in the country also account for percent of the global total. Accordingly, foreign brands, especially Japanese and Korean manufacturers, dominate the Vietnamese car market due to their affordable price tags and low maintenance costs. The car market in China has been facing a massive slowdown lately. Car sales have fallen to a two-year low. There are three main reasons for this decline in sales volume. Firstly, there is a general economic slowdown that the country is currently experiencing. Secondly, there is competition from the international field.