麦肯锡汽车行业报告-McKinsey-Perspective-on-Chinas-auto-market-in-2020.pdfVIP

Automotive Assembly Practice Bigger, better, broader: A perspective on China’s auto market in 2020 Arthur Wang Wenkan Liao Arnt-Philipp Hein Automotive Assembly Practice Bigger, better, broader: A perspective on China’s auto market in 2020 Arthur Wang Wenkan Liao Arnt-Philipp Hein Automotive Assembly Practice Bigger, better, broader: A perspective on China’s auto market in 2020 1 Bigger, better, broader: A perspective on China’s auto market in 2020 China’s automotive sector grew at a compound average rate of 24 percent a year between 2005 and 2011 and, in 2010, overtook the United States as the largest single-country, new- car market. We forecast that the growth of China’s auto market will slow to an average of 8 percent a year between 2011 and 2020 – still very fast by developed-world standards. Sales are forecast to reach 22 million in 2020, bigger than either the European or North American markets. As the years pass and the market matures, Chinese consumers are growing more sophisticated about cars and their tastes are evolving. Many have already purchased a first, entry-level car and will be ready to upgrade to newer and better models. To succeed in this more demanding environment, automakers must better understand what their customers want, and how their expectations differ from region to region and from auto- body-type segment to segment. In this way, the Chinese car market is becoming more like that of North American, Europe, and Japan and perhaps even more complex, given the many regional and segment differences. To address the