China PV market growth may slow to 4.6% in '09

Shanghai, January 19 (Gasgoo.com) Chinese passenger vehicles market is expected to see sale growth drop to the lowest 4.62% for 2009 amid the global financial crisis, according to a report by Ipsos China, an independent company focusing on survey-based market research.

China's passenger vehicle market will post a new growth in 2010 when the global economy recovers, the government stimulus policy takes effect and consumer confidence increases, the report said.

The growth is expected to reach a peak in 2012, the report claimed.

In the short term, the auto industry policy will prefer the enhancement of in-house development of automobiles and own-brand vehicle construction. Meanwhile, the development of fuel-efficient and environmentally-friendly auto technologies will be one of China's long-term programs.

Leading consumer groups of passenger vehicles will care more about the cost of car using.

The external conditions such as CPI, PPT, oil price and steel price will restrict the development of China's passenger vehicles market, said the report.