Fluctuation of the Chinese Automobile Market during and after the Financial Crisis

Hua Wang

Chapter 12 in Global Automobile Demand, 2015, pp 113-135 from Palgrave Macmillan

Abstract: Abstract The period of 2008–2012 will mark a new milestone for the Chinese automobile industry. In 2009, for the first time ever, China became the world biggest automobile market in terms of annual sales, overtaking the US market. During the following years, vehicle sales (commercial vehicles and passenger cars) boomed. On the whole, between 2008 and 2012, the market doubled in size, from 9.38 million in 2008 to 19.3 million in 2012. Between 2008 and 2009, the year-on-year growth rate soared from 6.7% to 46.2% then decelerated to 32% in 2010 and dropped to 2.5% in 2011. But it rose again in 2012 (4.3%), showing that there was still an important potential for growth.

Keywords: Foreign Direct Investment; Chinese Government; Automobile Market; Chinese Consumer; Frugal Innovation (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-51617-6_6

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DOI: 10.1057/9781137516176_6

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