According to the US TrueCar Inc. According to the company's latest report, China is already the world's largest auto market, but it is not the "richest auto market." China's average car price is nearly 60% lower than that of the US, and its own brand is only half the price of foreign brands.
China's large-scale US value-for-money TrueCar pointed out in the report that the new car sales in the Chinese market in 2014 were 19.7 million (Editor's Note: This figure should be "light vehicle sales", consistent with US statistical methods, higher than the official Chinese passenger multiplication. Car sales, which is lower than the overall car market, and the United States last year, the new car sales of 16.5 million, the two countries ranked first and second in the global automotive single market.
But this does not mean that the Chinese auto market is the most valuable, because the price of bicycle transactions in the Chinese market is much lower than that of the United States. According to a survey conducted by TrueCar for 705 models and different models of derivative models, the average manufacturer's guide price for new cars in 2014 was US$20,805. In contrast, in the US market, the average manufacturer's guidance price for new bicycles reached $34,537. This means that the bicycle price in the Chinese market is nearly 60% lower than in the United States.
As a result, the total value of new cars sold in the United States in 2014 reached $570.9 billion, compared with $409 billion in China, a total difference of $161 billion.
TrueCar also said that the average price of foreign-owned car brands in the Chinese market is $32,278, while the self-owned brand is $15,706. The latter is almost half of the former.
Foreign media pointed out that this is why in 2009 the United States was overtaken by China, but it still attracted a large number of automakers to focus on the United States.
Second-hand car change comparison results If the used car is also included in the scope of car trading, the United States is the world's number one in terms of value and scale.
TrueCar pointed out that in 2014, the United States sold a total of 53.5 million new and used cars. After China was included in used cars, the sales volume of the car was 25.7 million, still less than half of the United States.
In terms of value, according to the consideration of used cars, the value of the US market last year reached 1.18 trillion US dollars, while China was 468.5 billion US dollars.
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