Auto sales set to rev up for year after September's surge
By Pan Xiaoyi |
October 13, 2010, Wednesday
|
Print Edition
Print Edition
CHINA'S passenger car sales continued to rev up in September, the prime season for auto purchases, and sales are expected to accelerate right through the fourth quarter.
Dealers sold 1.21 million units including sedans, sport utility vehicles and multi-purpose vehicles in September, a 18.89 percent jump from a year earlier, the China Association of Automobile Manufacturers said yesterday. Auto sales surged from a 18.7 percent annual growth in August and a 13.55 percent rise in July when the market saw its slowest gain in sales in 15 months.
In the first nine months, passenger car sales jumped 36.68 percent to 9.89 million units.
"Considering a large number of consumers have bought in August due to sharp discounts, the result is very good and indicated high enthusiasm by buyers," said Cui Dongshu, secretary-general of the China Automobile Dealers Association. "It shows the auto industry has been recovering steadily and may increase at a stable rate."
Volkswagen Group China reported sales jumped 39 percent to 1.48 million units in the first three quarters. General Motors and its joint ventures in China sold a total of 1.78 million units in the same period, up 37.5 percent from a year earlier.
Market watchers said the recovery in passenger car sales in the world's biggest auto market may drive through October to December as consumers rush to buy in case incentive measures, such as preferential taxes for energy-efficient cars and subsidies to rural residents, expire at the end of this year.
China's auto sales, including passenger and commercial, rose 35.97 percent to 13.13 million units in the first nine months. The CAAM predicts sales of 17 million units this year.
Dealers sold 1.21 million units including sedans, sport utility vehicles and multi-purpose vehicles in September, a 18.89 percent jump from a year earlier, the China Association of Automobile Manufacturers said yesterday. Auto sales surged from a 18.7 percent annual growth in August and a 13.55 percent rise in July when the market saw its slowest gain in sales in 15 months.
In the first nine months, passenger car sales jumped 36.68 percent to 9.89 million units.
"Considering a large number of consumers have bought in August due to sharp discounts, the result is very good and indicated high enthusiasm by buyers," said Cui Dongshu, secretary-general of the China Automobile Dealers Association. "It shows the auto industry has been recovering steadily and may increase at a stable rate."
Volkswagen Group China reported sales jumped 39 percent to 1.48 million units in the first three quarters. General Motors and its joint ventures in China sold a total of 1.78 million units in the same period, up 37.5 percent from a year earlier.
Market watchers said the recovery in passenger car sales in the world's biggest auto market may drive through October to December as consumers rush to buy in case incentive measures, such as preferential taxes for energy-efficient cars and subsidies to rural residents, expire at the end of this year.
China's auto sales, including passenger and commercial, rose 35.97 percent to 13.13 million units in the first nine months. The CAAM predicts sales of 17 million units this year.
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