This report covers the automotives parts & aftermarket products and services (including B2B & B2C) market in China.
The report covers the following sectors: Mechanical parts; Electrical parts ; Electronic parts; Tyres; & Maintenance products & services.China’s auto market is booming.
Sales soared in 2002, when many local consumers who had waited for China’s long-delayed accession to the World Trade Organisation (WTO) in December 2001 chose to buy in a more competitively priced climate.
A total of 3.25 million vehicles were sold in China in 2002, according to the China Association of Automobile Manufacturer (CAAM).
In 2003 it expects sales of 3.7-3.9 million - including about 1.4 million passenger cars, 1.3 million trucks and 1.2 million buses – with a total value of US$ 93 billion, up from US$ 78 billion in 2002.
Heady numbers like these sparked a rash of new investments by foreign carmakers in the second half of 2002, as the likes of Hyundai of South Korea and Japanese firms Nissan and Toyota announced massive expansion programmes for their mainland operations.
More foreign investment has followed in 2003, along with a series of aggressive cost-cutting strategies as companies have sought to win customers.