01/06/01: CHINA - Market will soak up 660,000 PCs in 2001
auto-asia.com
Shanghai Volkswagen Automotive Co. has forecast that the Chinese market will soak up about 660,000 passenger cars in 2001. Shanghai VW itself expects to produce 240,000 cars this year consisting of =60,000 Passats, 70,000 Santana 2000s and 100,000 or more general Santanas. The company claims that the Passat B5, which went into local production last October has already taken a 60% market share in its price bracket while the Santana has 50% in its price bracker and the Santana 40% in its bracket.
The company believes that cars retailing for Rmb90,000-150,000 will account for nearly 40% of all sales in the market. It expects 22% of private car sales to be in the sub-Rmb90,000 bracket, 19% in the Rmb150,000-200,000 range, 12% in the Rmb200,000-300,000 range and 8% in the over-Rmb300,000 bracket. About 32% of Chinese families plan to buy cars within the next five years, according to a just-published sample survey by the China National Consumers' Association. Among those surveyed, 3.2 % say that they would buy cars in 2000, 11.1% in 2001, 15.6% would buy in 2002, and 70.1% in 2003-2005. |
