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Chinas Auto Market Soars by 19 per cent in 2005
Southfield MH (SPX) Mar 16, 2006 China's automotive market maintained steady growth in 2005 to reach almost 3.8 million new vehicle registrations, a 19 percent increase compared to 2004, according to R. L. Polk & Co. GM passenger cars captured 14.2 percent of the segment's market share, with Volkswagen following closely at 13.3 percent of passenger car market share. Nissan's passenger cars, ranked 13th in 2004 market share, grew an impressive 58 percent to move into eighth place in 2005 with 4.1 percent market share. "Nissan's success is largely due to the introduction of the Teana and the Tiida models, which totaled more than 100,000 new vehicle registrations," said Steve Flinker, R. L. Polk & Co. managing director of the Asia Pacific Division. "These vehicles appeal to the market's affinity for small cars but the brand's success is also indicative of Nissan's commitment to domestically produced vehicles in China." Hatchbacks accounted for the strongest growth of all segments in the Chinese market increasing by 36 percent in 2005, with segment leader Chery QQ accounting for 84,700 new vehicle registrations, an increase of 110 percent from 2004. However, notchback sedans, defined as a four-door vehicle with a hatchback trunk, remain the most popular cars for Chinese consumers. This is reflected by the performance of the Hyundai Elantra, the 2005 top model in the Chinese market. Elantra registrations across China reached 167,000 units in 2005, an increase of 92 percent. Beijing was the biggest single market for the Elantra with 30,237 registrations in 2005, an increase of 251 percent compared to 2004. "Everyone in the automotive industry is watching China for growth opportunities. Polk's China data offers our customers market analysis and insight into how the landscape will change from year to year," said Flinker. "The data is relevant to people in a wide range of roles, from market representation to sales planning and parts distribution." Community Email This Article Comment On This Article Related Links - The Economy
US India Bolster Economic Trade Ties
Washington DC (UPI) Mar 02, 2006President George W. Bush's first presidential visit to India this week was a clear victory for the administration, capped by an agreement to separate New Delhi's civilian and military nuclear programs and a strong push for increasing bilateral economic ties between the world's two largest democracies. |
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