• Title/Summary/Keyword: monthly automobile sales volume

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Analysis of Automobile Industry Trends and Demand Forecasting of Monthly Automobile Sales in Chin (중국 내 자동차 산업 동향과 월별 판매량 시계열분석)

  • Chenyang, Wang;Se Won, Lee
    • Journal of Korea Society of Industrial Information Systems
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    • v.28 no.1
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    • pp.35-48
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    • 2023
  • In this study, we introduced the development status and the government policy of the Chinese automobile industry under the rapidly changing global economic environment. We conducted a consumer trend survey on automobile purchases by consumers in China. Despite the Chinese government's strong national emission control policy and stricter standards for manufacturing and selling internal combustion engine vehicles, 59.6% of respondents saying they would choose an internal combustion engine vehicle when purchasing a vehicle in the future for various reasons. It was confirmed that there is a significant gap between government policies and consumer perceptions. In addition, we have discovered the recent declining trend of automobile sales in China, and used the monthly sales volume from January 2010 to December 2020 as training set, and the sales volume from January 2021 to November 2022 as a test set. We proposed and evaluated a time-series model for predicting future automobile demand in China. Then, we showed the monthly sales forecast for 2023 when each model was applied.