Passenger car sales in China – additional information
China has been the largest market for passenger cars since 2008. In 2013, roughly 18 million passenger cars had been sold in China, more than in the United States, Germany and Japan combined. The People’s Republic is also one of the largest producers of passenger cars in the world. Over 18 million passenger cars had been produced in China in 2013. When compared to car markets in developed countries around the world, China’s domestic automobile market still possesses high potentials for growth. As of 2010, around 250 million vehicles had been registered in the United States, whereas China only counted 78 million registered vehicles.
Both General Motors and Volkswagen are among the leading carmakers in China. More than half of all passenger cars sold in China were of foreign origin in 2012. China’s national carmakers enjoy a price advantage rather at the lower end of the market. The most popular passenger car model in China is the sedan, especially in the luxury car segment, which is projected to grow above 20 percent steadily until 2015. In order to win larger margins in the Chinese market, automakers such as Volkswagen have launched luxury sedan models solely designed for Chinese customers.