Auto sales may grow by double digits
Print Edition
CHINA’S auto sales may continue to grow by double digits this year on panic buying as car buyers worry that more cities will impose vehicle purchase curbs, UBS Securities said yesterday.
More than 25 million units may be sold in 2014, up 10.7 percent and higher than the combined growth rate of 9.1 percent in the first four months.
Deliveries of passenger cars may increase 11.8 percent for the whole year on demand for sport-utility vehicles and luxury models, while small cars are expected to outperform.
The China Passenger Car Association expects this year’s sales to grow by another 500,000 units amid panic buying caused by fears that vehicle purchase curbs will be extended to over 10 cities.
But the growth in China’s car sales may be moderate compared with last year’s 13.9 percent, and seen to further slow to 9.8 percent next year, UBS Securities said.
In the passenger car segment, Japanese brands may regain some market share in the next two years given their strong pipeline of models.
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