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Growth pace steers Chinese auto buying to overtake 2012
Print Edition
The combined vehicle sales in China so far this year have overtaken those in 2012 as the market tapped the growth momentum, the China Association of Automobile Manufacturers said yesterday.
Deliveries of passenger cars and commercial vehicles rose 14.1 percent from a year earlier to above 2 million units in November. The sales from January to November hit 19.9 million units, up 13.5 percent — the second highest accumulative growth rate archived by the market this year.
The sales in China’s passenger car segment jumped 15.1 percent to 16.2 million in the January-November period.
China’s auto sales are seen on track to overtake the 7-percent growth target set by CAAM in January. Actually sales are speeding toward a double-digit growth as December is traditionally a high season for automotive purchases in China, the association said.
Growth in sales by Japanese brands outpaced the market, rising 19.2 percent, CAAM said. Japanese automakers are recovering from a slump last year amid tensions between Beijing and Tokyo over conflicting claims to uninhabited islands in the East China Sea.
Manufacturers are spending heavily to create models that appeal to China’s growing urban class, adding to competition that is squeezing fledgling domestic brands.
November sales of Chinese-brand vehicles lagged the market, rising 5.5 percent to 680,000 vehicles.
Sales have been spurred this year by concern among would-be buyers that Chinese authorities may tighten limits on vehicle ownership to curb smog and traffic in major cities.
Beijing, Shanghai and other major cities limit new vehicle registrations. Smaller cities such as Tianjin, Qingdao, Wuhan, Changsha and Hangzhou are rumored to be studying limits on purchases.
General Motors Co, China’s top-selling vehicle brand, said earlier that sales of GM-brand autos by the company and its Chinese partners rose 13.3 percent in November to 294,500 vehicles. It said that was the brand’s second-best sales month of 2013.
Nissan Motor Co, the biggest Japanese auto brand in China, said sales rose 95.7 percent to 131,800. Toyota Motor Co’s sales surged 140.7 percent to 89,800 vehicles.
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