SHANGHAI, Sept. 9, 2015 /PRNewswire/ -- 2015 marks the 100th anniversary of AmCham Shanghai. To help celebrate this milestone, AmCham Shanghai's Automotive Committee and our members gathered at the Swissotel Grand Shanghai today for a look at the road ahead - and back - for China's automotive industry.
Jack Perkowski, Founder and Managing Partner of JFP Holdings gave attendees an overview of the history of China's automotive sector and how U.S. companies like Buick and Ford helped pave the way for China to become the world's largest vehicle market.
To better understand the regulatory landscape, Dr. Frank (Fuquan) Zhao, professor and Director of the Automotive Strategy Research Institute at Tsinghua University, led a discussion about China's regulatory policies in the automotive sector.
Lian Hoon Lim, Managing Director of Alix Partners presented the results of Alix's annual China Auto Outlook, an analysis of OEMs and auto suppliers in the AmCham Shanghai membership as well as a survey of the senior executives of leading domestic and international auto-part makers in China.
According to the report, China's auto market is entering a new "normal" with low single-digit growth. Certain segments such as SUVs are doing better than others, while LCVs (light commercial vehicles) are feeling the impact of the slowing economy.
The report also warned global OEMs that the China market may prove disappointing for them as domestic OEMs have started recapturing lost market share, reversing a four-year trend. However, used car sales are growing fast, changing market dynamics for OEMs, parts suppliers and dealers.
"To restore growth and profitability, Chinese auto dealers must consider several strategic actions to adapt to changes in the market," said Lian Hoon. "They need to improve customer experiences, strengthen aftermarket services and explore auto financing opportunities."
About the American Chamber of Commerce in Shanghai
The American Chamber of Commerce in Shanghai, known as the "Voice of American Business" in China, is the largest and fastest growing American Chamber in the Asia Pacific region. Founded in 1915, AmCham Shanghai was the third American Chamber established outside the United States. As a non-profit, non-partisan business organization, AmCham Shanghai is committed to the principles of free trade, open markets, private enterprise and the unrestricted flow of information.
AmCham Shanghai's mission is to enable the success of our members and strengthen U.S.-China commercial ties through our role as a not-for-profit service provider of high quality business resources and support, policy advocacy and relationship-building opportunities. Visit www.amcham-shanghai.org for more information about us.
