According to the China Association Of Automobile Manufacturers (CAAM), vehicle sales in June 2014 rose 5.2% year-on-year (y-o-y), to 1,845,800 units, bringing sales for H114 to 11,683,100 units, an increase of 8.4% y-o-y. It is important to note, however, that sales in June grew at the smallest y-o-y pace since March 2013 and were dragged down by the commercial vehicle (CV) segment, which contracted 19.7% yo-y in the same month. While we are maintaining our passenger car sales forecast for 2014, we are downgrading our CV sales forecast due to the segment's poor performance year-to-date.

BMI Industry View 7

SWOT 9

Political 11

Economic 12

Business Environment 13

Industry Forecast 14

Production And Sales 14

      Table: Autos Total Market - Historical Data And Forecasts (China 2012-2018) 14

Alternative Fuel 17

Passenger Cars 32

      Table: Passenger Car Market - Historical Data And Forecasts (China 2012-2018) 32

Commercial Vehicles 39

      Table: Commercial Vehicle Market - Historical Data And Forecasts (China 2012-2018) 39

Motorcycles 41

      Table: Motorcycle Market - Historical Data And Forecasts (China 2012-2018) 41

Company Developments 41

Suppliers 43

Macroeconomic Forecasts 49

Economic Analysis 49

More Cities To Witness Price Declines 50

Government, PBoC Likely To Tweak Policies 51

Economic Reforms Another Headwind 52

      Table: Economic Activity (China 2009-2018) 54

Industry Risk Reward Ratings 55

Asia - Risk/Reward Ratings 55

      Table: BMI Industry Risk/Reward Ratings - Asia-Pacific Autos 58

Company Profile 59

Company Monitor 59

Shanghai GM 62

Volkswagen 64

Ford Motor 66

Daimler 68

Regional Overview 70

      Table: Vehicle Sales June 2014 (CBUS) 70

Global Industry Overview 76

Global Overview 76

      Table: Passenger Car Sales May 2014 (CBUs) 76

Outperformers Boost European Outlook 76

Trucks Give North America A Lift 77

India Brings Relief To BRICs 79

Demographic Forecast 81

      Table: China's Population By Age Group, 1990-2020 ('000) 82

      Table: China's Population By Age Group, 1990-2020 (% of total) 83

      Table: China's Key Population Ratios, 1990-2020 84

      Table: China's Rural And Urban Population, 1990-2020 84

Methodology 85

Industry Forecasts 85

Sector-Specific Methodology 86

Sources 86

Risk/Reward Ratings Methodology 87

      Table: Automotive Risk/Reward Ratings Indicators And Weighting Of Indicators 88

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