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China auto sales hit 1.89m units in Jan, up 13.8%
By Jin Jing |
February 18, 2011, Friday
|
Online Edition
Online Edition
CHINA'S auto industry got off a strong start with January sales rising 13.8 percent year on year but the brisk sales may cool down in the following months after central government scrapped stimulus.
A total of 1.89 million vehicles were sold across the country last month, rewriting the monthly growth record of 13.7 percent set in December. But year-on-year growth fell from a peak of 120 percent recorded in January 2010, China Association of Automobile Manufacturers said yesterday.
The association attributed the slowdown to the expiration of government incentives, newly introduced purchase quota, and a large customer base. Car makers also halted production before the Spring Festival shopping season.
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 totaled 365,400 units, an increase of 5 percent.
Auto sales in China, already the world's largest auto market, boomed last year, mainly driven by the central government's tax breaks on energy-saving small cars as well as subsidies for rural purchases.
Many consumers rushed to the showrooms before the stimulus ended this year and cities like Beijing introduced car license quota to battle traffic congestion.
A total of 1.89 million vehicles were sold across the country last month, rewriting the monthly growth record of 13.7 percent set in December. But year-on-year growth fell from a peak of 120 percent recorded in January 2010, China Association of Automobile Manufacturers said yesterday.
The association attributed the slowdown to the expiration of government incentives, newly introduced purchase quota, and a large customer base. Car makers also halted production before the Spring Festival shopping season.
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 totaled 365,400 units, an increase of 5 percent.
Auto sales in China, already the world's largest auto market, boomed last year, mainly driven by the central government's tax breaks on energy-saving small cars as well as subsidies for rural purchases.
Many consumers rushed to the showrooms before the stimulus ended this year and cities like Beijing introduced car license quota to battle traffic congestion.
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