Auto sales drive to good start
By Jin Jing |
February 19, 2011, Saturday
|
Print Edition
Print Edition
China's auto industry roared off to a good start in January when sales surged 13.8 percent from a year ago, although they are expected to slow in the following months after the central government scrapped stimulus measures.
A total of 1.89 million vehicles were sold in China last month, the China Association of Automobile Manufacturers said yesterday.
January's sales also hit a new monthly record as they rose 13.7 percent from December. But the year-on-year growth fell from a peak of 120 percent in January 2010.
The association attributed the slowdown to the expiration of government incentives and a newly introduced quota on vehicle registration in Beijing.
A total of 1.53 million sedans, sport-utility vehicles and multi-purpose vehicles were sold in January nationwide, up 16 percent from a year earlier. Commercial vehicle sales climbed 5 percent from a year earlier to 365,400 units.
Auto sales in China, already the world's largest auto market, boomed last year due mainly to the central government's tax breaks on energy-saving small cars and subsidies for rural purchases.
Sales of small cars have, however, been affected. Although the association's figures showed the sales of cars with engine capacity of 1.6 liters or lower, rose 14.7 percent to 1.07 million units in January, the growth was 1.5 percentage points lower than the overall passenger car market.
Sales of minivans fell 7 percent to 241,500 in January from December, or an annual 1.7 percent drop.
Analysts expect the auto market to grow this year, albeit by a slower 10-15 percent.
A total of 1.89 million vehicles were sold in China last month, the China Association of Automobile Manufacturers said yesterday.
January's sales also hit a new monthly record as they rose 13.7 percent from December. But the year-on-year growth fell from a peak of 120 percent in January 2010.
The association attributed the slowdown to the expiration of government incentives and a newly introduced quota on vehicle registration in Beijing.
A total of 1.53 million sedans, sport-utility vehicles and multi-purpose vehicles were sold in January nationwide, up 16 percent from a year earlier. Commercial vehicle sales climbed 5 percent from a year earlier to 365,400 units.
Auto sales in China, already the world's largest auto market, boomed last year due mainly to the central government's tax breaks on energy-saving small cars and subsidies for rural purchases.
Sales of small cars have, however, been affected. Although the association's figures showed the sales of cars with engine capacity of 1.6 liters or lower, rose 14.7 percent to 1.07 million units in January, the growth was 1.5 percentage points lower than the overall passenger car market.
Sales of minivans fell 7 percent to 241,500 in January from December, or an annual 1.7 percent drop.
Analysts expect the auto market to grow this year, albeit by a slower 10-15 percent.
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