Cautious over auto purchases
By Vivian Jin |
July 9, 2010, Friday
|
Print Edition
Print Edition
CHINESE consumers are more cautious about buying vehicles because they have tightened their wallets due to the decreasing impact from the government's stimulus measures and rising house prices, according to a latest industry research.
The overall intention to buy an automobile in the next 12 months has fallen by an annual 21 percent to only 32 percent, AC Nielsen said in its 2010 China Auto Trend Monitor Report after it surveyed 2,000 car owners and potential buyers since April.
Meanwhile, 40 percent of the potential automobile owners said they would spend only 80,000 yuan (US$11,800) to 120,000 yuan on purchasing a car.
"Consumers in 2010 are becoming more realistic when it comes to purchasing an automobile," said Georgia Zhuang, head of the firm's auto research department in China.
After an unexpected surge last year, China's vehicle sales have fallen monthly since April after the government wound down its stimulus on small cars.
The sluggish stock market and rising house prices also tightened consumers' wallets and changed their financing means. Most will still pay cash fully but 29 percent will take out a bank or dealer loan, up from 25 percent from the previous year, Nielsen said.
The overall intention to buy an automobile in the next 12 months has fallen by an annual 21 percent to only 32 percent, AC Nielsen said in its 2010 China Auto Trend Monitor Report after it surveyed 2,000 car owners and potential buyers since April.
Meanwhile, 40 percent of the potential automobile owners said they would spend only 80,000 yuan (US$11,800) to 120,000 yuan on purchasing a car.
"Consumers in 2010 are becoming more realistic when it comes to purchasing an automobile," said Georgia Zhuang, head of the firm's auto research department in China.
After an unexpected surge last year, China's vehicle sales have fallen monthly since April after the government wound down its stimulus on small cars.
The sluggish stock market and rising house prices also tightened consumers' wallets and changed their financing means. Most will still pay cash fully but 29 percent will take out a bank or dealer loan, up from 25 percent from the previous year, Nielsen said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
