29 Mar Bill Russo Delivers Auto Industry Look Back / Look Ahead Report at AmCham Suzhou Center
Suzhou, China, March 26, 2019
In 2018, China recorded its first annual decline in car sales in decades. The gathering gloom about Chinese car sales, especially among foreign manufacturers, misses a fundamental point, however: growth in automotive services in the country is offsetting the decline in vehicle sales: We estimate that overall Chinese “auto/mobility” revenues will rise this year to $590 billion, up $10 billion from last year. This figure is on track to top $1 trillion by 2025.
In this session, Bill Russo reviewed the 2018 sales results, discussed the trends shaping the future automotive industry which will influence the forward outlook, and showcased the key observations from the recent Consumer Electronics Show in Las Vegas.