China's government wants its domestic-brand vehicles to account for 50 percent of its passenger-vehicle market by 2015. The country is looking to reduce its reliance on foreign automakers after years of doing assembly work for them.
A revised blueprint for China's auto industry targets China's self-branded cars to take 40 percent of the nation's total car market in the same time frame, said the Ministry of Industry and Information Technology in a proposal.
Total sales of Chinese-brand passenger vehicles, including cars, sport-utility vehicles, minivans and multipurpose vehicles, hit 4.09 million units for the first 11 months of this year, accounting for 44 percent of the auto market.
Chinese-brand passenger cars also powered ahead to take a 29 percent market share as domestic makers gained most from a preferential tax on small cars.
The central government is promoting Chinese self-branded vehicles to take the industry into a higher gear. Leaders of the domestic industry, with names already well known in the West, include Shanghai Automotive Industry Corp (SAIC), battery and electric-car maker BYD Auto and Geely Automobile.
The nation's largest carmaker, SAIC, reported sales of its own-brand MG and Roewe jumped more than 160 percent to 80,000 units by November. The carmaker aims to more than double its sales to 180,000 units next year, when three new models will be available.
A fresh outlook report on China's auto industry is expected to be issued in the first half of 2010 after input is gathered from major domestic auto groups. The blueprint is expected also to encourage the development of environmentally friendly, or as they are known here, "new energy" vehicles.
Inside Line says: China's government looks to move into Auto Industry 2.0. — Vivian Jin, Correspondent
