In mid-2004, the automotive market was seen as a key sector for economic growth. The article was published on December 26, 2003, at 8:17 AM. Our reporter Zeng Yihui analyzed China's per capita income and found that in terms of consumption structure, the average income ranged from 2 to 9 million yuan. Among the consumer groups, those looking for mini cars priced between 10,000 to 100,000 yuan represented the largest segment. However, the most dynamic car market in 2003 wasn't these categories. Instead, mid-range cars priced around 15 to 35 million yuan were not only popular but also saw increasing attention. Industry analysts predicted that 2004 would be the year of mid-range cars. According to data from the Beijing Automotive Industry Research Institute, the fastest-growing sedan segment in the first 11 months of the year was mid-to-high-end cars, with a 137.94% increase. In contrast, mini-cars had the smallest growth, only 58.38%. Additionally, more than 90% of car inventories were made up of mini and economical cars, which frequently faced large-scale price cuts. Models like Chang'an Alto, Antelope, Geely Pride, and others such as Youliou, Hafei Racing, Gabriel, Lobo, FAW Xiali, Chery QQ, Yueda Kia Pratt, Warp Hurricane, South Asia Palio, and others were priced between 20,000 to 90,000 yuan, making them affordable. However, their level of consumer interest had started to decline. While some models like Geely Unio, Chery QQ, and Hafei Racing remained popular, many others struggled to survive, with prices continuously falling. Geely’s decision to develop a mid-range car and the impossibility of launching a "beautiful leopard" became clear. Consumer preferences had shifted—people no longer just wanted a car; they desired something more refined. Cars were now considered major household purchases, not items to be replaced quickly. The concept of credit was gaining popularity, allowing people to buy better cars with the same money. Second-time buyers were also moving away from micro-cars, highlighting the transitional nature of this segment. Additionally, urban traffic congestion and concerns about vehicle restrictions in many cities, along with vanity and social status factors, contributed to the shift. The used car market was active, but few people bought used micro-cars. Mid-range cars, which had emerged suddenly in 2003, showed strong performance and growing consumer interest. High-end cars were also becoming increasingly popular. According to a survey by CBC, 45% of consumers in five major Chinese cities planned to buy a new car within two to three years, while 22% aimed for cars under 100,000 yuan. Fifty percent intended to purchase vehicles priced between 100,000 to 200,000 yuan, and 25% wanted high-end cars over 200,000 yuan. Demand for 1.6 to 2.0-liter cars rose significantly to 42%, while demand for 2.1 to 2.5-liter cars also grew. Moreover, 46% of consumers preferred four-door sedans. Su Hui, general manager of the Beijing Asian Games Village Automotive Trading Market, noted that high-end cars were in high demand, with tight sales. Online click-through rates for mid- to high-end models exceeded 60% and continued to rise. In terms of sales, models like Beijing Hyundai Sonata, Shanghai Buick Excelle, FAW Red Flag, Bora, Golf, Vios, China Morning Breeze, Hainan Mazda Fairfax, Dongfeng Citroen Saina, Dongfeng Nissan Sunshine, and Chery Eastar were among the best sellers, priced between 130,000 to 180,000 yuan. High-end cars such as Guangben New Accord, FAW Audi A4, Mazda 6, New Bluebird, Buick Regal, Passat, and others priced between 200,000 to 500,000 yuan were also selling well. Even the BMW 325i, despite its high price, attracted significant consumer attention, with some customers already booking for next year. Imported luxury cars like the BMW 760Li, Audi A8, Mercedes-Benz S600, Porsche, and Hummer were also in high demand. Notably, a specially-made Bentley worth nearly 10 million yuan was snapped up in Beijing. The surge in mid-to-high-end car sales was attributed to both consumer trends and aggressive marketing by manufacturers. These cars had become symbols of success and family comfort. The main driver was the high profit margins, which made manufacturers happy. In 2004, mid-range cars would take center stage. Auto manufacturers announced plans to launch nearly 50 new models in the Chinese market. Toyota, Nissan, GM, Daewoo, and others all introduced new models, signaling intense competition ahead. With the market shifting toward a buyer's market and the removal of import quotas in 2005, the mid-range car segment was set for fierce competition. Beyond the vehicle market, competition would extend to upstream and downstream industries, affecting steel, oil, and financial sectors. This development would have long-term implications for the Chinese auto industry.

Titanium Outdoor Products

Titanium Outdoor Products,Titanium Non Stick Pan,Pure Titanium Cookware,Ultra Light Pure Titanium Rice Spoon

Bao Ji Titour Technology Co.,Ltd , https://www.cntitour.com