Family, business find fun, utility on same wheels
Updated: 2016-05-23 07:14
By DU XIAOYING(China Daily)
|
|||||||||
With the second-child policy now in place, many couples are expected to have two children, which, in turn, could make the MPV segment the sweet spot in the auto market.LI WENMING/CHINA DAILY |
In two years, that is, in 2015, MPV sales soared to 2.2 million units, up 14.2 percent over 2014, accounting for 10.49 percent of the overall passenger vehicle market, and becoming the fourth largest segment, just shy of the third place.
Industry insiders predict that by the end of this year, MPVs would overtake mid-size cars to become the third best-selling auto segment in China, just behind compact cars and sports utility vehicles. So, automakers are optimistic about MPVs' future in China.
"We see great potential for high-end MPVs like the V-Class," said Guido Krupinski, CEO of Fujian Benz Automotive Co, a three-way joint venture of Daimler Vans Hong Kong Ltd, BAIC Motor Corp and Fujian Motor Industry Group Co.
"With the economy as well as individual incomes growing, domestic elites will have more diversified and individual demands for trips. So, the market for high-end MPVs that can satisfy both the family and business demands will continue to grow."
Krupinski said the second-child policy, in particular, will have an impact on the population structure, family structure and economic development in the decades to come. He believes that a bigger family size will create a need for bigger cars.
Hiroji Onishi, head of Toyota Motor's China operations, told Reuters that "MPVs have good prospects in China. Given the changing life-stage needs, we think what's going to be popular are smaller, more affordable MPVs like the (Toyota) Noah Voxy, a compact minivan which we market in Japan".
- Russia to build first cruise liner in 60 years
- LinkedIn, Airbnb match refugees with jobs, disaster survivors with rooms
- Duterte 'willing to improve ties' with Beijing
- Canadian PM to introduce transgender rights bill
- Hillary Clinton says her husband not to serve in her cabinet
- New York cake show designs fool your eyes
- Striking photos around the world: May 16 - May 22
- Robots help elderly in nursing home in east China
- Hanging in the air: Chongqing holds rescue drill
- 2.1-ton tofu finishes in two hours in central China
- Six things you may not know about Grain Buds
- China Beijing International High-tech Expo
- Highlights at Google I/O developers conference
- Nation celebrates International Museum Day
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
Marriott unlikely to top Anbang offer for Starwood: Observers
Chinese biopharma debuts on Nasdaq
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
US Weekly
Geared to go |
The place to be |