Chinese Car Market Speeds Up
ACNielsen took a phone survey in May and June of more than 1,500 repsondents in Beijing, Shanghai and Guangzhou.
The results – private car ownership and the intention to buy a new car are still shooting up.
Just two years ago, only 11% of Beijingites owned a car. Now it is 28%.
Two years ago in Guangzhou only 4% owned a car compared to 18% now.
In Shanghai it is 11% now compared to 4% two years ago.
In 2005, just six percent in a similar survey said they planned to buy a car. The percentage of people planning to buy a car in China now is 30%.
Chinese are becoming more mobile. The highway system is improving. Disposable income is rising. And more and more people are defaulting on their car loans.
China is a great market for car buyers. If only America has something they wanted to buy.
What do you think?
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