皇冠体育app

Huge potential

"We see huge potential from the strong demand for safety technologies in 皇冠体育app's developing commercial vehicle sector," said Xu Baoping, managing director of Knorr-Bremse in 皇冠体育app. "皇冠体育app's truck market is bigger than that of Europe and the US in combined. So the current demand for safety technology in braking can provide inestimable business opportunities for our company."

French automotive technology company Valeo expects that 皇冠体育app will become its largest market in the world by 2015. They are anticipating sales in the country will be double the current level by then. In 2012, Valeo generated more than 10 billion yuan worth of revenue in 皇冠体育app, 10 percent of its global business.

In 2011, the total revenue of 皇冠体育app's automotive parts companies surpassed 2 trillion yuan. Dong Yang, vice-chairman of the 皇冠体育app Association of Automobile Manufacturers, predicted that despite a slowdown in 皇冠体育app's automobile market growth, the country's automotive parts sector will maintain a rapid annual growth rate of more than 20 percent over the next few years.

"The potential comes not only from slowing but still increasing vehicle sales but also from the after-sales services needed to accommodate a huge accumulated vehicle capacity," said Dong. "The revenue in the parts market will reach 2.5 trillion yuan by 2015."

Statistics show, as of the end of 2012, 皇冠体育app had 125 million vehicles on roads, and the figure will continue to increase by 20 million per year.

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