China in second month of car-buying spree

By Lu Nengneng | November 11, 2013, Monday |

Online Edition

A SECOND peak month for car buying kept up the high-growth momentum of China’s auto market, the China Association of Automobile Manufacturers said today.

Deliveries of passenger cars and commercial vehicles surged 20.3 percent in October from a year earlier to 1.93 million units, which is the second consecutive month for it to achieve growth in the neighborhood of 20 percent.

The sales figure includes 1.61 million passenger cars, which reached its second highest level after going up 23.6 percent.

All these are clear signs of a high season, the association said, though it is also partly the effect of a low-base created by the sales plunge of Japanese carmakers during the same period last year amidst the Diaoyu Islands dispute.

After more than half a year of recovery, the carmakers staged a huge turnaround last month, which included Honda soaring 211.6 percent and Nissan surging 128 percent.

The overall strong rally of the market brought the combined sales in the past 10 months up 13.5 percent, 0.8 percentage point higher than the figure by September. And with the opening of the Guangzhou Motor Show next Thursday, China’s car market is expected to reach a climax.

A new peak of shopping is expected at the end of the year when price-discounting campaigns are launched, targeting deep-pocket consumers, according to Rao Da, secretary-general of China Passenger Car Association.

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China in second month of car-buying spree

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