Passenger Vehicle Volumes In China To Rise - Tire Review Magazine

Passenger Vehicle Volumes In China To Rise

Passenger vehicle volumes in China are expected to rise more than 10 million units by 2026, according to IHS Automotive forecasts.  IHS-Logo

“If we think of China as 31 separate countries, 19 of the 20 fastest growing passenger vehicle markets in the world since 2002 are in China,” Henner Lehne, global head of light vehicle forecasting for IHS Automotive. “Our new forecast seeks to provide insight and guidance, inform key business decisions and investment, and offers a level of forward-looking intelligence on the market in China that has been unavailable up to now.”

The IHS analysis found that while some markets will slow down, other provinces will grow exponentially.

The Guangdong providence is seeing car sales rivaling some of the strongest markets in the world and is growing at more than twice China’s national average, IHS reported. Shangdong, in eastern China, is now the ninth largest market for passenger vehicles globally with additional growth expected. And the Fujian providence has jumped from the 66th largest passenger vehicle market in 2002 to the 36th today, which is larger than Norway, Peru and Israel combined.

Beijing and Shanghai new passenger vehicle registrations are thought to have peaked, but there is still some medium-term sales growth prospects, the IHS Automotive analysis found.

The IHS study also found that some provinces will see a significant slowdown in sales by the middle of the next decade. Shandog, which was averaging double digital growth, will fall to just 5% growth by 2026.

You May Also Like

Yokohama Rubber reveals 2024 motorsports activity plan

Yokohama said participation in motorsports activities is crucial to its efforts to strengthen the Advan and GeoLandar brands.

Yokohama-Nitrocross

Yokohama Rubber revealed its motorsports activity plan for 2024. The company said participation in motorsports activities is crucial to its efforts to strengthen the Advan and GeoLandar brands and is again participating in a wide variety of motorsports events around the globe, from top-category to grassroots events.

Yokohama Rubber will again supply its Advan tires to many teams participating in motorsports events, such as Japan’s Super GT, the Nürburgring 24-Hour Race and the Pikes Peak International Hill Climb. Yokohama Rubber’s GeoLandar tires will be supplied to teams participating in off-road races in North America and Asia, including the Baja 1000, King of the Hammers, the Mint 400 and the Asia Cross Country Rally.

TIA’s Advanced Farm Tire Service training to take place in June

The training class for technicians in the agricultural and farm tire industries is set to take place June 11-14.

TIA_training-
Maxxis-sponsored athletes make podium, overall top 10 at Mint 400

Maxxis athletes Michael McFayden, Ethan Ebert and Trey Gibbs had podium finishes at the Mint 400 on Maxxis RAZR XT tires.

2024-mint400-maxxis
Sun Auto Tire reveals winner of Ford Bronco Sport giveaway

Lowell Anderson entered the giveaway at his local Sun Auto Tire & Service store while receiving a routine oil change.

Sun-Auto-Bronco-giveaway
Nokian Tyres holds bracket challenge on worst roads in North America

In 2023, the tiremaker’s audience voted Quebec as the province or state with the worst road conditions on the continent.

Pothole-Protection-from-Nokian-Tyres

Other Posts

Gallery: 2024 Big O Tires conference and convention

Highlights from this year’s Big O Tires conference and convention, featuring a general session, trade show and breakout sessions.

Gary-Skidmore
Bridgestone’s Firestone Liberia rubber farm receives ISCC Plus recognition

According to Bridgestone, its Liberia facility earned the ISCC Plus certification for its efforts in reducing environmental impacts.

Firestone_Liberia
Ascenso Tires adds new OEM sales manager

Douglas Duesing has more than ten years of experience working in agriculture, construction and mining OEMs.

Ascenso-Douglas-Duesing-1400
Nexen Tire Motorsports drivers earn top placements at King of the Hammers

Nexen Tire Motorsports partnered with drivers across a variety of racing series both on- and off-road, including King of the Hammers.

Nexen-KOH