Chinese manufacturers will boost their market share within five years, report says

Article by Christian A., on January 9, 2011

In a survey of 200 senior auto executives by KPMG International, Chinese car brands will likely increase global market share through 2015, along with Volkswagen AG and Hyundai Motor Co.

In the survey, about 81 percent of executives predicted Chinese manufacturers will increase their market share in the next five years; 75 percent said VW's share will rise; 72 percent forecast Hyundai and affiliate Kia Motors Corp. will advance. However, 48 percent said Chrysler will lose market share.

Expanding Chinese companies include Geely Automobile Holdings Ltd., the unit of Zhejiang Geely Holding Group Co., which bought Sweden's Volvo Cars from Ford Motor Co. in August 2010.

According to estimates by Andrew Close, a researcher for IHS Automotive in London, VW, which is merging with sports-car maker Porsche SE, and General Motors Co. each had a worldwide market share of 9.7 percent in 2010.

It is in joint second place behind Toyota, which had 11 percent. Mike Steventon, a partner at KPMG and author of the report, said that VW, as an individual brand, is the big winner.

IHS said the global light vehicle market will likely increase 6 percent to 75.9 million units in 2011, followed by China's 7 percent growth to 18.2 million cars, vans, and SUVs. [via bloomberg]

Topics: china, sales

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