Where: The Portman Ritz-Carlton Hotel, 1376 Nanjing Road West, Shanghai, China
When: February 21, 2019
Actively participating in all efforts for the sustainable future mobility Elaphe CEO Gorazd Lampič attends at AmCham Shanghai’s Automotive Committee this week. The event invites to look back/look ahead on future mobility. Expert speakers will review the 2018 sales results, discuss the policies shaping the future automotive industry which will influence the forward outlook, and summarize the trends shaping the global industry as showcased in the recent Consumer Electronics Show in Las Vegas.
In 2018, China recorded its first annual decline in car sales in decades. The gathering gloom about Chinese car sales, especially among foreign manufacturers, misses a fundamental point, however: growth in automotive services in the country is offsetting the decline in vehicle sales: It is estimated that overall Chinese “auto/mobility” revenues will rise this year to $590 billion, up $10 billion from last year. This figure is on track to top $1 trillion by 2025.
In addition, demand for the purchase of new vehicles is also increasingly tempered by the growing availability of good-quality used cars.