China's SUV Market: Local Carmakers Capture more than 50% of the Market
- China's SUV (2WD and 4WD) market has been greatly outpacing the overall automobile market since 2012. In the twelve months of 2015, newly-registered automobile volume increased 52,4% compared to the same period of 2014 to 6,22 million units, of which Chinese SUVs (independent brands) went up 71% to 3.14 million units, accounting for more than 50% of China's SUV market.
- Looking at Chinese SUV brands by segment, C-based SUVs (total length of 4.3m or above, but below 4.8m) accounted for over 80 percent followed by B-based SUVs(below 4.3m) with 15 percent, indicating that independent Chinese brands are concentrated in the medium to low-end market.
- Looking at Chinese SUV carmakers, Great Wall maintained top share with nearly 700,000 newly-registered SUVs followed by Changan Automobile and Jianghuai Automobile. There were five carmakers whose newly-registered SUV volume surpassed 50 percent compared to other types of automobiles manufactured by the same company, indicating growing dependency on SUV products. The five companies were Great Wall Motor (92.8% of SUVs registered), Hawtai Motor (73.8%), Jianghuai Automobile (73%), Zotye Holding (68%) and GAC (83%).
- Strong sales of SUVs are improving results of Chinese carmakers on the local market. In the coming years, competition is expected to intensify in China's SUV market. While, Chinese carmakers are preparing their future SUV strategy, VW, Honda, Hyundai and other foreign carmakers are stepping up SUV launches in China in an effort to recapture market share.
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