China: Market Opportunity for Safety Technology

Rapid development of the Chinese auto market has been underway for the last ten years. This is coupled with increasing awareness amongst the Chinese people of automotive safety products and accessories.

China’s fast economic development and constant growth in national consumption has turned the country into a very attractive market for commercial opportunities in the automotive arena.

In 2011, China’s auto market showed steady growth and it became the world’s largest car manufacturer, with more than 18.5 million annual vehicle sales, including those overseas — by companies such as Chang An, Great Wall and MG.

Geely, the Chinese manufacturer that bought Volvo, recently received 4 stars from EuroNCAP. This was a very big achievement and Geely is very proud of this accomplishment. Other Chinese companies have been motivated by the success of Geely and are steadily improving their safety features to meet international  standards.

This generation of Chinese young people has a much higher socio-economic level than its predecessor. Many urban Chinese drive luxury cars that Europeans and Americans would not be ashamed of and the general market trend continues to be positive as demand grows from month to month.

Mobileye sales, via distributors nationwide, are growing in parallel.

Publish Date 10/05/2012 Category Newsletter Country

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