With the fading out of China's large-scale stimulus policies, China's auto production and sales growth is expected to slow down in 2015, but the auto electronics industry and the market will continue to maintain relatively rapid growth. In 2015, China's auto production and sales volume is expected to maintain a growth rate of around 3%, close to 24.6 million units, while auto electronics output will increase by more than 12% to more than 76 billion US dollars; automotive electronics exports will increase by about 7%. More than 13 billion US dollars; imports will be the same as last year, about 3.2 billion US dollars; the market size of automotive electronics products still maintains a growth rate of about 13%, more than 65 billion US dollars; China's automotive IC market demand will maintain a growth rate of more than 12% , close to $4.8 billion.
What is the driving force for the development of the automotive electronics industry?
At present, the growth of vehicle production and sales volume is still the main driving force for the development of China's automotive electronics industry. According to the China Association of Automobile Manufacturers, total vehicle production in China increased by 8.1% in 2014 to 23.9 million units; sales volume increased by 6.9% to 23.5 million units. It is estimated that China's auto production will maintain a small increase of around 3% in 2015-2016, and the output will reach 2,460 and 25 million units respectively (Figure 1).
Figure 1. China's auto production growth and forecast for 2010-2016
Market capacity will increase by 3.3%
In 2014, the total sales volume of China's auto market was 23.98 million units, a year-on-year increase of 7.9%. The growth rate of the automotive market in 2015-2016 is expected to be 3.3% and 2.1%, respectively, which will reach 2,476 and 25.48 million units respectively (Figure 2). In 2014, the import volume was 1.426 million, and the import volume accounted for 5.9% of the total sales volume in the domestic market.
Figure 2: Capacity growth and forecast of China's auto market in 2010-2016
Holding 154 million vehicles, another big market for demand
According to the news released by the Traffic Management Bureau of the Ministry of Public Security, the average annual increase of Chinese motor vehicles in the past five years is more than 15 million. As of the end of 2014, China's motor vehicle ownership reached 264 million vehicles, including 146.7 million vehicles (Figure 3). At present, there are 31 cities in China with more than 1 million vehicles, including 10 cities in Beijing, Chongqing, Chengdu, Shenzhen, Shanghai, Guangzhou, Tianjin, Hangzhou, Suzhou and Zhengzhou. The top 10 cities are in the car. It has a total of 39.92 million vehicles, accounting for 21% of China.
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