Gasgoo.com (Shanghai February 13) - J.D. Power and Associates predicts the market for light-weight vehicles (commercial and passenger vehicles with a weight of six tons or lower) in China to expand to 35 million units by 2018, auto.sina.com.cn reported today. The firm made the prediction on the basis of expected 11 percent growth in the domestic passenger vehicle market this year.
According to Mei Songlin, head of Chinese automotive research for J.D. Power and Associates' Asian division, the market for passenger vehicles has performed strongly since 2000. Mr. Mei said that he expects the market to perform well for the next five years.
When comparing individual segments, sales growth rate changes for mid-size and entry level vehicles were the most dramatic. Entry level model sales fell from 42 percent in 2000 to 18 percent in 2011, while sales of vehicles of mid-sizes increased from 13 percent to 37 percent during the same period. Sales performance of SUVs in China was also respectable, increasing from 4 percent in 2000 to 17 percent last year.
J.D. Power and Associates Vice President and General Manager Geoffrey D. Broderick expects the growth rate for the Chinese automobile market to be among the world's highest, alongside India, Brazil and Russia.
According to Mr. Broderick, future Chinese growth will hinge on increasing consumer income and growing sales in second- and third-tier cities.
