China’s auto market posts fall in sales
Print Edition
SALES in China’s auto market dipped last month, trimming the combined January and February sales growth, the China Association of Automobile Manufacturers said yesterday.
Deliveries of passenger cars and commercial vehicles shed 0.9 percent from a year earlier to 1.58 million units in February, after a 7.7 percent gain recorded in January.
February’s sales were also 36.9 percent down from January’s when demand for cars rose in the run-up to the Spring Festival last month.
Auto sales climbed 4.4 percent year on year to 4.08 million units in the first two months of the year. Their combined sales offered a fairer perspective in studying China’s auto market at the beginning of a year since the Spring Festival falls on different dates within this time frame, fueling the high season for car shopping.
Passenger cars, including sedans, sport-utility vehicles and multi-purpose vehicles, rose 5.1 percent from a year earlier to 3.61 million units in the last two months. The growth rate was 3.6 percentage points lower from the same period of last year.
Sales of the SUV segment surged 54.8 percent year on year, leading it to continue to be the biggest riser this year so far. Chinese brands powered ahead by 12.6 percent in the passenger car market as they tapped their strong presence in this high-growth segment. They lifted their market share by 3.1 percentage points on an annual basis to 46 percent.
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