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Market

The Chinese Automobile industry has been growing in a stunning increase rate. By end of 2004, China had over 20,000,000 automobiles. The automobile production for year 2005 is estimated at 5.1 to 6 million, in which the number of cars is between 2.5 to 2.62 million, buses between 1.29 to 1.34 million and trucks between 1.31 to 1.37 million.


In the recent years, millions of Chinese people have been turning their dreams of owning a car into reality. In 2004 more than 5.1 million new automobile were sold in China and it is estimated this 2005 that number will reach to 6 million, a twenty percent growth from the previous year.


Chinese automobile production has become the fastest growing industry in the world. China is ranked number three in car production and ownership in the world, following the US and Japan.

At the same time, the criminal rate related to car thief and robbery also on a steady increase. Thirty six percent of crimes are car related in those economical advanced areas last year. Hundred thousand cars are stolen every year in the China, an average of more than 300 per day. This is the number one concern for the car owners while they are driving on the road or leaving the car in the parking space.

Last year in Beijing area along, 7,000 or 5% of the cars were stolen. People want to protect their own safety and their investment in their cars. As result, the demand from car owners and taxi companies has created a huge market for the security and monitoring product and services.

There are total 795 million cars in the world. This huge number can be translated into a great business opportunity for automobile security and monitoring.

 
@New Globe, 2004-2006