While everybody was slugging it out in China and India, a new market emerged, almost unnoticed. Let me quickly describe this market - population of over 600million, GDP of over 2,333 billion USD with rapid growth, car penetration in the single digits, imports prevalent as demand outstrips supply and a car is still the most aspirational product that is a visible indicator of personal and professional success and status. Surprised??
Oct. 30 , 2013In the first half of 2013 Chinese car manufacturers’ shipments to dealers were up 18 percent over the same period of the previous year. JSC Automotive, the consultancy specializing in the Chinese automotive market, expects growth to slow to an annualized rate of some 10 percent. In November, the Central Government will present the long-awaited catalog of economic measures to the party’s Central Committee. This will indicate whether China is serious about tackling restructuring of the economy. Such restructuring would have a great impact on the automotive market.
Sep. 16 , 2013