Despite slowing sales growth rates in the Chinese automobile market, several industry figures are fairly optimistic regarding prospects for next year. In a report appearing today, Gasgoo.com (Chinese) compiled a selection of market predictions from influential industry figures.
Shanghai GM General Manager Ye Yongming
"As the automobile market enters a period of slow growth, competition between enterprises is shifting from manufacturing to pricing. I believe that growth in the domestic passenger automobile market will be around eight percent; total sales will be between 15.2 million and 15.4 million vehicles. I predict the Chinese economy as a whole to perform better next year than this one, with GDP growth at eight percent. However, the domestic automobile market may have to deal with [the issue of] more cities announcing policies limiting automobile sales and other problems."
Dongfeng Honda Executive Vice President Chen Binbo
"Growth rates for the automobile market next year will be around five percent. Furthermore, pressure on Japanese manufacturers will be even larger. The aftermath from the Diaoyu Island incident will not begin fading away until next August."
BAIC Sales President Dong Haiyang
"I don't believe that growth in the Chinese automobile market is 'slow' this year. [Rather], [2012] is the start of a period of normal [growth rates]. It is highly irregular for the market to grow 30 percent or 40 percent annually. I believe that growth rates within ten percent are normal. As for individual enterprises, I feel that they should enact [proper] pricing management [policies]. Conducting good R&D, manufacturing, price control, aftermarket service and brand management work is very important to BAIC."
