China's auto sales rebound at faster pace
By Jin Jing |
August 11, 2011, Thursday
|
Print Edition
Print Edition
CHINA'S auto sales rebounded in July at a faster pace as Japanese car makers normalized their production following the resumption of core spare parts after an earthquake in March while exports soared.
Carmakers in China sold 1.27 million vehicles last month, up 2.18 percent from a year earlier, according to China Association of Automobile Manufacturers. In June carmakers sold 1.4 percent more vehicles.
Passenger car sales rose 6.7 percent to 1.01 million units on stronger demand for sedans and sport-utility vehicles while sales of commercial vehicles slid 12 percent annually to 263,500 units due to the nation's slower economic growth.
The CAAM's data showed that Japanese carmakers managed to drive up their market share to 23 percent last month, up 4.5 percentage points.
Production at Japanese carmakers including Honda, Nissan and Toyota returned to normal after the supply of core spare parts resumed following the earthquake and tsunami in March.
Toyota's July sales surged 28 percent to 82,500 units, according to an earlier statement. Honda's China sales reversed 9.4 percent to 51,399 units but this narrowed from a 30 percent tumble in June.
Vehicle exports also boosted the stronger sales growth in July when they propelled 57.7 percent from a year earlier to 733,00 units, according to CAAM.
Zhu Yiping, an official from CAAM, said the overall growth is still relative low against the over 30 percent rise last year. China tightened economic policies and phased out vehicle purchase incentives this year.
Carmakers in China sold 1.27 million vehicles last month, up 2.18 percent from a year earlier, according to China Association of Automobile Manufacturers. In June carmakers sold 1.4 percent more vehicles.
Passenger car sales rose 6.7 percent to 1.01 million units on stronger demand for sedans and sport-utility vehicles while sales of commercial vehicles slid 12 percent annually to 263,500 units due to the nation's slower economic growth.
The CAAM's data showed that Japanese carmakers managed to drive up their market share to 23 percent last month, up 4.5 percentage points.
Production at Japanese carmakers including Honda, Nissan and Toyota returned to normal after the supply of core spare parts resumed following the earthquake and tsunami in March.
Toyota's July sales surged 28 percent to 82,500 units, according to an earlier statement. Honda's China sales reversed 9.4 percent to 51,399 units but this narrowed from a 30 percent tumble in June.
Vehicle exports also boosted the stronger sales growth in July when they propelled 57.7 percent from a year earlier to 733,00 units, according to CAAM.
Zhu Yiping, an official from CAAM, said the overall growth is still relative low against the over 30 percent rise last year. China tightened economic policies and phased out vehicle purchase incentives this year.
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