Production achievements: China 10 months 2016 and forecast 2017
- Chinese automotive production (PC + UV) continues to be the locomotive of the global automotive industry, and even strengthens its position, with an increase of 14.9% over the first 10 months of 2016 compared to the first 10 months of 2015 (+ 13.9% over 10 months). This strong growth is in particular a consequence of local measures concerning small and compact cars (tax reduction on these vehicles) which boosted the domestic market (+ 13.9% over 10 months). China thus accounts for 28% of world production in 2016, compared with only 27% in 2015.
- When analyzing the growth in vehicle sales in China, the market began to grow strongly from March 2016 (after a chaotic period between February 2015 and February 2016). The increase continued until September 2016 (+ 26.6%) and is now tending to return to lower growth (+ 19.3% in October 2016).
- The tax reduction measures for small and compact cars will be partially renewed in 2017. Consequently Inovev expects in 2017 a production increasing by 5% to 27,8 million vehicles.
- By carmaker, the VW group positioned itself again ahead of the GM group in 2016 (3.7 million units against 3.5 million), Hyundai-Kia (1.6 million), Changan (1.2 million), Renault-Nissan (1.1 million), Honda (1.1 million), Toyota (1 million), Ford (0.85 million), Great Wall (0.85 million) and Geely (0.7 million).
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