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Jaguar Land Rover - Strategy to expand in China
The first 200 words of this essay...
Business in China Practical Work
June 2011 | Practical work numbers: 10544, 10577, 10731, and 10556
OWN WORK DECLARATION FOR PRACTICAL WORK (electronic upload)
We hereby certify that the following piece of work complies with the Own Work Declaration form already issued and with the University's Rules and Regulations relating to plagiarism and collusion, as listed in the Essential Information for Students and the MBA Course Handbook.
Industry and Competitive Landscape
The market for premium cars in China, estimated to be 400,000 units, accounts for only 7 per cent of the total passenger vehicle market in the nation much lower than 15 to 20 per cent in developed economies. The segment however is experiencing massive growth. It is expected to grow by 100 per cent by 2015 and further reach 1.4 million units by 20201. The main factors driving the growth are the increase in income of the Chinese consumers as well as shift in socio-cultural factors.
In 2009, there were 477,000 millionaires in China as opposed to 2.9 million in the United States. However, 206 of every 1000 Chinese millionaires bought a super-luxury car while only 78 per 1000 did in US2.
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