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?