Vehicle sales in Hong Kong have tended to be volatile, reflecting shifts in local economic growth rates. However, after new passenger-car registrations reached record highs in 2012-14, sales are expected to fall in the forecast period, despite respectably strong economic growth. Rising interest rates and subdued consumer confidence in the wake of an anticipated fell in house prices will dampen car sales.
The automotive market in Hong Kong will remain small, but the market for luxury vehicles will continue to provide lucrative opportunities, owing to high levels of disposable income in the territory. Sales of electric vehicles are expected to remain disappointing in 2015-19. Despite government efforts to promote their use, penetration rates will increase only gradually.
Hong Kong will phase out 82,000 commercial vehicles that do not meet the Euro IV diesel emission standards by 2020, and has set aside HK$11.4bn (US$1.5bn) for ex gratia payments to owners of older vehicles that have to be taken out of use. In addition, the maximum life in use for newly registered commercial vehicles will be capped at 15 years. The ex gratia payments became available in early 2014, leading to a surge in registrations of commercial vehicles. The scheme will remain in operation until end-2017, and The Economist Intelligence Unit expects it to underpin strong growth in commercial-vehicle registrations in 2015-17.

Automotive report 5

Overview 5

Passenger cars 6

Commercial and other vehicles 9

Production 10

Fuel sources 11

Industry publishing schedule 14

中国科学技术信息研究所