Along with the changes in family structures as well as the increase in oil prices, multipurpose MPV class vehicles are becoming a family consumption trend. The increase in family consumption will greatly speed up the growth of MPV in the family vehicle market, especially after the two-child policy having been reshaping the auto market.
Evolved gradually from the station wagon, MPV is featured with large crew spaces, passenger car comfort and functions of van. At present, the MPV market has grow mature in Europe, America, Japan and South Korea. In Europe, the MPV car market share reached up to 30%. MPV in Japan is one of the most popular vehicles, the market share accounting for 25%. MPV market share in South Korea reached around 20%. But, the MPV market share in China stands less than 10%.
The MPV sales have kept overall increasing trend in China since 2009. In 2012, the MPV sold 493,400 units in China, and 1.3052 million vehicles sold in 2013 . In 2014, the MPV sales surged 40.5% to 1.856 million vehicles in China.
MPV sales in the first seven months this year surged by 12.81% to 1.1289 million units, while the overall auto sales growth was 0.39%. MPV model enjoyed the second fattest growth in China following SUV.
Additionally, "the two child policy" was officially launched in November 2013, which is to raise the the birth rate for those families who have a parent being the “only child” of his or her original family.
A few days ago, and "two child child" policy is expected to be fully open in 2015, which is a good news for MPV market. Especially the 7-seat MPV is tailored especially for families granted by the “two child.”
