Automotive dealerships in China: accelerating performance
Automotive North Asia, TNS China
International Markets Practice, KPMG, Germany
THE CHINESE AUTOMOTIVE MARKET – A SUCCESS STORY IN THE NEW MILLENNIUM
In recent years, China has surpassed Japan and the major European car markets, and rapidly become the second largest automotive market in the world. Only in the United States of America are more vehicles sold every year, and even this will change in the future. With a projected annual growth of approximately 20%, China is destined to become the number one auto market in the world within the next three years. Indeed, even with far more conservative expectations, the “Middle Kingdom” will gain the global top spot not later than 2015 (see Figure 1).
Figure 1: Development of Chinese automotive market