Auto output in H1 rises 44%
By Jin Jing |
July 6, 2010, Tuesday
|
Print Edition
Print Edition
CHINA continued to be the world's biggest auto maker when its output rose 44 percent to 8.47 million in the first half of this year, the China Automotive Technology & Research Center said yesterday.
Vehicle sales expanded at a slower pace of 30 percent to 7.18 million units during the six-month period, the center said.
In June, auto sales increased 14 percent to 1.13 million units.
Sales of cars, including sedans, sport-utility vehicles and multi purpose vehicles, gained 10.9 percent to 839,200 units last month. The growth was slower from the increases of 34 percent in April and 25 percent in May. Car sales rose 25.6 percent to 5.42 million units in the first half, the center said.
Zhao Hang, head of the center, said the figures reflected the healthy growth in the first half of the year for China's auto industry.
But he noted that car makers and dealers are facing pressure on capital due to rising inventory.
"The 1.3 million unit stockpile is sending signals that the overall industry is facing a sales stagnation. The current inventory is nearing its allowable maximum level," he said.
But Zhao expects overall sales to continue growing steadily for the second half of this year due to strong economic growth, higher purchasing power, a rapidly growing vehicle population in second- and third-tier cities as well as stimulus measures for car buyers.
"Many stimulus measures will expire by the end of this year, prompting consumers to move forward their purchase plans. I expect vehicle sales in the third quarter will slightly drop with a rebound looking forward in the fourth quarter," Zhao said.
For the first time United States-based General Motors sold more cars in China than in its home market when its sales rose 49 percent in the first half to 1.2 million units against 1.08 million units there.
Ford Motor Corp's first half sales jumped an annual 53 percent to 301,524 units.
Vehicle sales expanded at a slower pace of 30 percent to 7.18 million units during the six-month period, the center said.
In June, auto sales increased 14 percent to 1.13 million units.
Sales of cars, including sedans, sport-utility vehicles and multi purpose vehicles, gained 10.9 percent to 839,200 units last month. The growth was slower from the increases of 34 percent in April and 25 percent in May. Car sales rose 25.6 percent to 5.42 million units in the first half, the center said.
Zhao Hang, head of the center, said the figures reflected the healthy growth in the first half of the year for China's auto industry.
But he noted that car makers and dealers are facing pressure on capital due to rising inventory.
"The 1.3 million unit stockpile is sending signals that the overall industry is facing a sales stagnation. The current inventory is nearing its allowable maximum level," he said.
But Zhao expects overall sales to continue growing steadily for the second half of this year due to strong economic growth, higher purchasing power, a rapidly growing vehicle population in second- and third-tier cities as well as stimulus measures for car buyers.
"Many stimulus measures will expire by the end of this year, prompting consumers to move forward their purchase plans. I expect vehicle sales in the third quarter will slightly drop with a rebound looking forward in the fourth quarter," Zhao said.
For the first time United States-based General Motors sold more cars in China than in its home market when its sales rose 49 percent in the first half to 1.2 million units against 1.08 million units there.
Ford Motor Corp's first half sales jumped an annual 53 percent to 301,524 units.
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