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Requirement
Executive summary of the analysis of the future of automobile manufacturing in China
ASSIGNMENT
Analysis of the Future of Automobile Manufacturing in China
Solution
Executive Summary of the Report
In the year 1964, the automakers took the centre stage in the New York Fair. The General Motors demonstrated the concept of Firebird IV and the company stated in order to explain the meaning of the concept that, ("Strategy& - the global strategy consulting team at PwC", 2016) “awaits the day when the family would drive to the highways by turning over the controls of the care to a programmed and automatic system and further travel in absolute and comfort safety more than the speed which will be possible on the expressways.” In contrast, Ford launched a vehicle i.e. Mustang for the future. Around fifty years of creation and innovation in the rider, safety and horsepower amenities have supported the automobile industry to increase the sales by the annual rate of four percent since the year of 1964. Further, the rate is double of the population growth globally.
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Moreover, from the past twenty years, the sales in the Japan, Europe and North America have been moderately flat. The growth is shifting to the China from the emerging markets. The emergence of China as the largest market of automotive across the globe is also fueling the acceleration of the domestic industry of automobiles in order to compete the global players. For more than a decade, European OEMs, Japanese, and North America created a triad and generated a majority in the sector of automobiles across the world.
According to the government report, it has been analysed that the year 2014 was the worst year for the domestic automobile market of China. As the foreign automakers are coming up with the affordable cars, entering into a place which is used to be a redoubt of China. Further, like affluence, the consumers of the Chinese market were supporting the foreign designers who are felt like more stylish and safer (Optimism et al., 2016). Moreover, five years ago, cut the subsidies which hugely supported the local brands. For example, Chongqing's western city stated that they provided the subsidy to 3,000 yuan for the purchasers of various models of the vans which were designed by the local makers. The Changchun’s northern city provided the subsidy of around 3,500 to 7,000 yuan for the purchasers of the cars. Therefore, this proved to be very beneficial for the China (Optimism et al., 2016).
The automobile companies of China are working in order to close the quality gap. As the quality survey stated in the year 2013, the Chinese brands had 130 problems per 100 cars whereas, foreign brands had 95 problems or defects per 100 cars. It has been analysed that from the last twenty years, the automobile industry was being dominated by the Accord and Camry. The major cities of China are restricting the numerous of new plates of license in order to minimise the pollution and traffic. Whereas, some of the cities are using the system of bidding for the purpose of licensing. According to the research (Optimism et al., 2016), this limit impacted the local brands as they encouraged the buyers of the car to purchase in bulk and luxurious cars in order to get the license plate on the cheaper ride. Furthermore, the watchers of the industry stated that it is a huge shakeout for the domestic car makers of China as the production was stopped by the famous automobile companies i.e. Meiya, Hafei and Shuanghuan. But the FAW Group Corp. has a great market share because it is the partner of Toyota Motor Corp. and the Volkswagen AG (Bradley et al., 2005). Further, the competition is forcing the makers of the automobiles in order to push the sedan technology of mass market which was not long and was limited to the luxury cars only.
HIS automotive estimates that more than 35 million vehicles will be sold per year in China by the year 2020, and it was around 20 million in the year 2013. The promise of China has fascinated the players, and as a result, the margin will increase naturally. Further, the importance of the country will transcend the results of the short term. In the future decade, the emergence of China as the centre of production and the dominant market will be having the great implications in order to design the cars. The standards of the Chinese mainly at the luxury end where the makers of the automobile industry are increasing the bar and will get the global affluence.
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Bradley, D., Bruns, M., Fleming, A., Ling, J., Margolin, L., Roman, F., & Flury, A. (2005). Automotive Industry Analysis. Available at:[Accessed 20 Aug. 2013].
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Optimism, O., Secretary, T., Benefit, C., Years, U., Services, B., & March, I. (2016). The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video. The Wall Street Journal. Retrieved 30 November 2016, from http://www.wsj.com/
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Optimism, O., Secretary, T., Benefit, C., Years, U., Services, B., & March, I. (2016). The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video. The Wall Street Journal. Retrieved 30 November 2016, from http://www.wsj.com/
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Optimism, O., Secretary, T., Benefit, C., Years, U., Services, B., & March, I. (2016). The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video. The Wall Street Journal. Retrieved 30 November 2016, from http://www.wsj.com/
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Strategy& - the global strategy consulting team at PwC. (2016). Strategyand.pwc.com. Retrieved 30 November 2016, from http://www.strategyand.pwc.com/
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