- In 2014, China's locally-made passenger vehicle sales volume increased 9.9 percent to 19.7 million units, showing a drop a pace due to economic slowdown in the second half of the year. As a result, the actual volume did not reach the combined sales target of 20.07 million units set by automakers in the beginning of the year. In particular, the achievement rate of Japanese automakers was 87.4 percent in 2014, the lowest among all manufacturers.

- While both Honda and Nissan increased in 2013 compared to the previous year, up 27.7 percent and  12.2 percent respectively,realizing their annual sales target, both companies went up only single digit in 2014, becoming unable to reach their set annual goal. In contrast, EU automakers registered an annual achievement rate at 115.8 percent in 2014, the highest among all manufacturers, driven by VW and PSA, up 15.4 percent and 31.6 percent respectively.

- Looking at results by segment, SUVs performed well, posting an achievement rate of 142.2 percent in 2014. According to our partners based in China, a combined sales target of 22.49 million units is set by automakers for 2015, a 14.2 percent increase compared to 2014's actual result.

- In March 2015, the government announced its anticipated GDP growth rate of around seven percent for the year, indicating a drop in growth target from the previous year. Although they are unable to make any prediction regarding economic recovery, Chinese, US and EU automakers are setting high sales targets for the year with an aim to capture demand in inland China. In contrast, taking into consideration the current economic slowdown, Japanese and Korean automakers are taking a more cautious position and setting lower sales targets compared to other manufacturers.

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