The China light van segment is a dynamic market with increasing volume and shifting needs. The market is dominated by local brands, with Wuling, Dongfeng, and Chang'an accounting for 80% of market share. Foreign OEMs have an insignificant market share. The segment is a low-cost market, with sticker prices ranging from RMB 30K to 80K. The market is mostly in low-tier cities and rural areas where customers have limited budgets. Upcoming regulation and a shift in customer usage may modify the current market landscape and open a new door for foreign players. The segment includes all models with van body types within 3.5 to 5.2 meters. The light van segment is definitely a local market for its usages and brands. More than 95% of vehicles are sold in their passenger versions (with back-row seats and windows), avoiding the costly and restrictive usage linked to cargo versions. The segment is expected to grow in the coming years, driven by the increasing demand for commercial vehicles and the government's push for electric vehicles.
