China's auto sales may fall 10%
Source: Bloomberg News |
May 27, 2011, Friday
|
Print Edition
Print Edition
CHINA'S auto sales may fall 10 percent this year with the end of government stimulus policies and restrictions on car licenses, according to the China Automotive Technology and Research Center.
Industry-wide vehicle deliveries fell for the first time in 27 months in April, as the government raised fuel prices, cities implemented traffic curbs and Japan's earthquake slowed deliveries. Total auto sales dipped 0.25 percent to 1.55 million units, according to the China Association of Automobile Manufacturers.
"The exit of government stimulus policies was abrupt, judging from the current effects," said Zhao Hang, president of the center. "The slowdown of auto sales in the first four months was due to the phase-out of government stimulus policies and measures to tackle traffic jams," he said in Beijing yesterday.
Zhao's forecast for industry sales to decline contrasts with a growth outlook to trail the nation's gross domestic product by the association. The target is for 8 percent economic growth this year.
Domestic auto makers will be more affected by the slowdown as their products are aimed at the mid- to low-end market, Zhao said.
Industry-wide vehicle deliveries fell for the first time in 27 months in April, as the government raised fuel prices, cities implemented traffic curbs and Japan's earthquake slowed deliveries. Total auto sales dipped 0.25 percent to 1.55 million units, according to the China Association of Automobile Manufacturers.
"The exit of government stimulus policies was abrupt, judging from the current effects," said Zhao Hang, president of the center. "The slowdown of auto sales in the first four months was due to the phase-out of government stimulus policies and measures to tackle traffic jams," he said in Beijing yesterday.
Zhao's forecast for industry sales to decline contrasts with a growth outlook to trail the nation's gross domestic product by the association. The target is for 8 percent economic growth this year.
Domestic auto makers will be more affected by the slowdown as their products are aimed at the mid- to low-end market, Zhao said.
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