What you need to know
In the first six months of 2015, volume sales in the SUV and MPV segments increased 45.9% and 15.1% respectively. However, the growth of the total new passenger car market only reached 4.8% in the first half year of 2015, down from 9.9% in 2014.
Given that the car market in China is experiencing a slowdown of market growth, car manufacturers in China are going through a challenging period. But Mintel thinks people’ aspirations towards a better quality of life can be a consistent market driver beckoning consumers into cars.
This report provides a wealth of valuable information on the behavior of car owners and buyers. It goes into details to understand what drives first-car buyers and replacement car buyers to purchase their cars. Besides, this report also looks into consumers' purchasing attitudes towards new energy cars and examines why some other consumers refuse to consider new energy cars during their purchasing process.
Definition
This report builds on the analysis presented in Mintel’s Car Purchasing Process – China, September 2014. It focuses on new car sales and also covers the used car market in the market discussion. Passenger cars for private individuals are the sole focus, and therefore any discussion of commercial cars is excluded.
Passenger cars are divided into basic passenger cars (saloon cars), sport utility vehicles (SUV), multipurpose vehicles (MPV) and cross-type passenger cars.
Basic passenger cars (saloon cars): used for the transportation of personnel and luggage; the driver is usually the central focus, with an emphasis on driving and riding comfort. Saloon cars generally come in two-box configuration (hatchback) and three-box configuration (sedan).
Sport utility vehicles (SUV): combine the comfort of a saloon car with off-road capability, functional versatility, and a two-box configuration (hatchback).
Multipurpose vehicles (MPV): combine the comfort of the saloon car, the space of a tourer and can be used to transport goods like a van. These vehicles usually come in a two-box configuration. MPVs are targeted mainly at household users, and the majority are manufactured based on passenger car platforms.
Cross-type passenger vehicles: also known as minibuses. This type of vehicle can transport either passengers or goods, and is therefore known as a cross-type. Usually single-box.
In terms of power source, new energy cars are cars with an unconventional power source or new types of power plants such as electric power.
