SUVs are Main Force of Auto Market

According to statistic data from CAAM, the auto market has production and sales volume of 25.03m units and 24.95m units respectively this year, increasing 14.3% and 14.1% with the same period of last year respectively. SUVs have outstanding performances, becoming the main forces of the auto market.

In fact, domestic SUV market always keeps a high growth, even in time when the auto market encountered substantial declines. In 2016, SUV market’s growth is especially astonishing. Statistic data shows that domestic SUV models have a production and sales volume of 1.05m units and 1.02m units respectively this November, growing 20.97% and 13.96% respectively with the last month. The rate is greatly higher than the average growth rate of passenger vehicle market.

All auto companies are trying their efforts to launch SUV models. A total of 170 SUV models are launched in the previous ten months of 2016, with total sales of 7m units. It is gratifying that self-independent brands have astonishing performances in the market, and SUV models are their main competitive products. Luxury SUV, joint-venture SUV and self-independent SUV have all welcomed significant advances. The great improvements of technologies, quality and configuration of self-independent brands are one important factor in promoting the SUV market, and even the whole auto market.

It’s also predicted by experts that more consumers will choose self-independent SUV products in the future. With the upgrading SUV consumption level in first-and-second-tier cities and increasing consumption demand in other cities, SUV market with model price less than RMB 150,000 will also be occupied by self-independent brands.