Holiday blamed for lackluster car sales
Print Edition
IT was a disappointing February for car sales in China, a slump that has been partly attributed to the Spring Festival falling a week earlier this year.
Deliveries of sedans, sport-utility vehicles, multi-purpose vehicles and minivans fell 3.7 percent last month from a year earlier to 1.37 million units, which were down 41.5 percent from January, the China Passenger Car Association said yesterday.
“The shopping season before the holiday was relatively short for February,” said the association. “The rather volatile stock market, real estate market and currency market at the beginning of the year also impacted car sales.”
Combined sales for January and February were up 8 percent over last year, slightly below expectations, said the association, which predicts that sales will grow 10 percent year on year in March.
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