Affluent urbanites pushing SUV demand in China

ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report providing a forecast of the auto industry in China.
 
The report "China Automobile Sector to 2010," says that the demand for bigger cars has been growing at a blistering pace in China since 2004. The growing earning power of urban people contributes to the rising demand for SUVs, which saw sales gather momentum in the country last year, reaching around 360,000 units, an increment of more than 50% from 2006.

As the new urban working class and middle class population extends in the country, Chinese people spend an increasingly large share of their disposable income on transportation and communication. This share is continuously growing, pointing towards the fact that people are now becoming more attracted towards this auto segment, despite their high fuel consumption of SUVs.

The report forecasts SUV sales to run at a CAGR around 20% from 2008 to 2010 due to increasing support from the affluent Chinese population, and large scale promotion at auto shows.

The 85-page report provides a detailed study on other important auto segments, including LCVs, HCVs, passenger cars and motorcycles, as well as the auto component market. It gives an analysis of the factors that are pushing growth in the market, such as consumer groups and steel industry. It tracks market developments and analyses the opportunities in various verticals to map out the future direction of the market.  

"China Automobile Sector to 2010" is available from ReportBuyer.com.