China auto sales seem to slow
By Jin Jing |
May 11, 2010, Tuesday
|
Print Edition
Print Edition
CHINA'S overall auto sales rose 34 percent in April from a year earlier, boosted by continued economic expansion and government stimulus measures but analysts are divided on whether the market is slowing after April's sales fell 10 percent from March.
Auto makers sold 1.55 million vehicles last month, the China Association of Automobile Manufacturers said yesterday.
The sales included an annual 33 percent increase for passenger cars to 1.11 million and a 37 percent jump year on year in commercial vehicles to 444,300 units.
CAAM's data also showed that total sales between January and April surged to 6.2 million units, or 61 percent higher than the same period last year.
But sales in most categories reversed from a month earlier, with minivans posting the biggest decline of 20 percent followed by cars which fell 11 percent from March figures.
However, demand for MPVs and SUVs remained strong.
As car makers managed to control the inventory increase, "China's passenger car market is still stable and prices won't dip," said Rao Da, secretary general of China Passenger Car Association.
Rao estimated that May sales may further slow from April but new model launches by auto makers at the Beijing Auto Show in April would support demand.
However, Su Hui from the China Automobile Dealers Association cautioned that dealers were offering more price discounts to try and reverse flat sales.
"Hefty growth in April was based on a low comparative level last year," Su said. "Consumer enthusiasm is getting weak and buyers are adopting a wait-and-see attitude."
Most car makers gained from the robust sales in April. General Motors and its joint ventures in China set a new sales record in April when they sold 213,115 units, up 41.1 percent from April 2009.
Auto sales in China are forecast to rise 15 percent this year to 15 million units.
Auto makers sold 1.55 million vehicles last month, the China Association of Automobile Manufacturers said yesterday.
The sales included an annual 33 percent increase for passenger cars to 1.11 million and a 37 percent jump year on year in commercial vehicles to 444,300 units.
CAAM's data also showed that total sales between January and April surged to 6.2 million units, or 61 percent higher than the same period last year.
But sales in most categories reversed from a month earlier, with minivans posting the biggest decline of 20 percent followed by cars which fell 11 percent from March figures.
However, demand for MPVs and SUVs remained strong.
As car makers managed to control the inventory increase, "China's passenger car market is still stable and prices won't dip," said Rao Da, secretary general of China Passenger Car Association.
Rao estimated that May sales may further slow from April but new model launches by auto makers at the Beijing Auto Show in April would support demand.
However, Su Hui from the China Automobile Dealers Association cautioned that dealers were offering more price discounts to try and reverse flat sales.
"Hefty growth in April was based on a low comparative level last year," Su said. "Consumer enthusiasm is getting weak and buyers are adopting a wait-and-see attitude."
Most car makers gained from the robust sales in April. General Motors and its joint ventures in China set a new sales record in April when they sold 213,115 units, up 41.1 percent from April 2009.
Auto sales in China are forecast to rise 15 percent this year to 15 million units.
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