Arab Today, arab today mckinsey china car market to grow 8 annually
Last Updated : GMT 16:54:32
Arab Today, arab today
Arab Today, arab today

McKinsey :China car market to grow 8% annually

Arab Today, arab today

Arab Today, arab today McKinsey :China car market to grow 8% annually

Shanghai - AFP

Growth in China\'s auto market, the world\'s largest, is forecast to slow to an average eight percent annually from now until 2020 as consumers\' tastes change, consultancy McKinsey said on Wednesday. The country\'s auto market grew an average of 24 percent a year between 2005 and 2011, the global management consulting firm said in a newly issued report. Despite the slowdown -- from a 24 percent average between 2005 and 2011 -- China will remain the world\'s top market with sales of 22 million passenger cars in 2020, due to steady economic growth, rising incomes and road building, it said. \"Chinese consumers are growing more sophisticated about cars and their tastes are evolving,\" the report said. \"The Chinese car market is becoming more like that of North America, Europe and Japan and perhaps even more complex, given the many regional and segment differences.\" Figures from a Chinese industry group show China\'s passenger car sales rose 6.9 percent annually in the January-October period to 12.57 million vehicles. Growth so far this year shows improvement from the 5.2 percent for all of 2011, but is far below the 33 percent recorded in 2010, the China Association of Automobile Manufacturers said. \"Automakers must also factor in the uncertainties that may slow or disrupt market growth,\" McKinsey warned. \"The volatility, combined with chronic overcapacity, adds greatly to the challenges of doing business in the Chinese market.\" Uncertainty over the global economy and policy moves by the Chinese government could have a negative impact, the consultancy also said. Some Chinese cities have already slapped limits on car numbers due to concerns over traffic congestion and air pollution. McKinsey said the business environment could also face \"disruption\" due to industry consolidation, while emerging alternatives to car ownership, such as better public transport, could also present a challenge. Still, consumers were expected to buy bigger and more expensive vehicles, with sales of sport utility vehicles (SUVs) forecast to rise 13 percent annually from 2011 to 2020, it said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mckinsey china car market to grow 8 annually Arab Today, arab today mckinsey china car market to grow 8 annually

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 10:55 2017 Thursday ,23 February

Tesla trims losses as it prepares for UAE expansion

GMT 22:05 2017 Wednesday ,22 February

RTA completes Phase I of smart parking project

GMT 01:06 2017 Monday ,20 February

Dubai set to be leader in driverless mobility by 2030

GMT 00:36 2017 Monday ,20 February

Abu Dhabi merges key parking sectors

GMT 11:19 2017 Sunday ,19 February

Syrian Khallouf Trading Company launches two new cars

GMT 10:37 2017 Thursday ,16 February

Motorsport fans encouraged to buy GP tickets

GMT 13:21 2017 Wednesday ,15 February

200 Teslas to join Dubai Taxi fleet
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday