China's vehicle sales propel 32% to record 18m last year
By Ding Yining |
January 11, 2011, Tuesday
|
Print Edition
Print Edition
CHINA'S auto sales surged strongly in December to propel sales for the entire 2010 by an annual 32 percent jump to a record 18.06 million units, an industry association said.
Production of automobiles soared 32.4 percent year on year to 18.26 million units in 2010, the China Association of Automobile Manufacturers said yesterday.
More than 13.75 million units of passenger cars, including sedans, sport utility vehicles and multi-purpose vehicles, were sold in the country last year, up 33.2 percent from a year earlier.
China remained as the world's biggest auto market last year after it overtook the United States in 2009 to become the world's largest after it sold 13.64 million units.
CAAM sees China's auto market to grow 10 to 15 percent in 2011.
In December alone, passenger car sales expanded an annual 18.6 percent to 1.31 million units.
Although December is usually the slack season for car sales, expiry of stimulus measures pushed buyers to take advantage of the tax breaks.
The Ministry of Finance said at the end of December that the preferential purchase tax of 7.5 percent for vehicles with engines under 1.6 liters would be raised to 10 percent from beginning of this year.
Market watchers noted this could trim the sales of mini cars as few people would be willing to buy them without incentive measures. Rao Da, secretary general of China Passenger Car Association estimated that the expiry of a stimulus packages could cut sales by more than 1 million units.
"The rules to curb car purchases (in Beijing) also pushed up sales in the last month of the previous year and although the oil price keeps rising, customers are still eager to buy cars," said Rao.
But the ministry said subsidies for energy-efficient cars and new-energy vehicles will remain this year.
Production of automobiles soared 32.4 percent year on year to 18.26 million units in 2010, the China Association of Automobile Manufacturers said yesterday.
More than 13.75 million units of passenger cars, including sedans, sport utility vehicles and multi-purpose vehicles, were sold in the country last year, up 33.2 percent from a year earlier.
China remained as the world's biggest auto market last year after it overtook the United States in 2009 to become the world's largest after it sold 13.64 million units.
CAAM sees China's auto market to grow 10 to 15 percent in 2011.
In December alone, passenger car sales expanded an annual 18.6 percent to 1.31 million units.
Although December is usually the slack season for car sales, expiry of stimulus measures pushed buyers to take advantage of the tax breaks.
The Ministry of Finance said at the end of December that the preferential purchase tax of 7.5 percent for vehicles with engines under 1.6 liters would be raised to 10 percent from beginning of this year.
Market watchers noted this could trim the sales of mini cars as few people would be willing to buy them without incentive measures. Rao Da, secretary general of China Passenger Car Association estimated that the expiry of a stimulus packages could cut sales by more than 1 million units.
"The rules to curb car purchases (in Beijing) also pushed up sales in the last month of the previous year and although the oil price keeps rising, customers are still eager to buy cars," said Rao.
But the ministry said subsidies for energy-efficient cars and new-energy vehicles will remain this year.
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