Hopes for China's vehicle sales to expand in 2012
By Jin Jing |
January 11, 2012, Wednesday
|
Print Edition
Print Edition
GROWTH of China's passenger car sales slowed last year due to inflation and the end of two-year-long incentives, but there are hopes for sales to grow in 2012 as the country's low vehicle penetration and strong economy provide long-term potential.
Full-year passenger car sales, including sedans, sport-utility vehicles, multi-purpose vehicles and minivans, rose 2.8 percent on an annual basis to 13.7 million units last year, the China Passenger Car Association said yesterday. But the growth was a decline from a 15 percent advance in January 2011 and 5.3 percent for the first half of last year.
The tax cuts on small-engine vehicles ended last year after auto sales galloped by 32 percent in 2010. They were introduced to ensure healthy growth in the world's largest auto market.
The government measures to rein in inflation and purchase curbs in big cities to control traffic also hit vehicle sales. The December sales fell 3.3 percent to 1.42 million units.
The association predicted China's wholesale vehicle sales would grow 7 percent to 19.8 million units this year, including 15.6 million passenger cars and 4.25 million commercial vehicles, if the fuel tax remained stable. The retail vehicle sales may rise 12 percent to 18.6 million units.
Rao Da, secretary-general of the association, projected January's retail vehicle sales overall may drop 20 percent to 1.25 million units, but "the passenger car sales may see positive growth in the second quarter of this year."
Last year, SUVs saw the biggest sales increase of 21.2 percent, compared with a 3.6 percent gain for sedans and a 8.7 percent rise for MPVs. The sales of minivans fell 11 percent.
But China gave hope to major global auto giants. General Motors sold a record 2.55 million units in China last year, a rise of 8.3 percent. Volkswagen also boosted China sales by 13.8 percent to 1.72 million units.
Full-year passenger car sales, including sedans, sport-utility vehicles, multi-purpose vehicles and minivans, rose 2.8 percent on an annual basis to 13.7 million units last year, the China Passenger Car Association said yesterday. But the growth was a decline from a 15 percent advance in January 2011 and 5.3 percent for the first half of last year.
The tax cuts on small-engine vehicles ended last year after auto sales galloped by 32 percent in 2010. They were introduced to ensure healthy growth in the world's largest auto market.
The government measures to rein in inflation and purchase curbs in big cities to control traffic also hit vehicle sales. The December sales fell 3.3 percent to 1.42 million units.
The association predicted China's wholesale vehicle sales would grow 7 percent to 19.8 million units this year, including 15.6 million passenger cars and 4.25 million commercial vehicles, if the fuel tax remained stable. The retail vehicle sales may rise 12 percent to 18.6 million units.
Rao Da, secretary-general of the association, projected January's retail vehicle sales overall may drop 20 percent to 1.25 million units, but "the passenger car sales may see positive growth in the second quarter of this year."
Last year, SUVs saw the biggest sales increase of 21.2 percent, compared with a 3.6 percent gain for sedans and a 8.7 percent rise for MPVs. The sales of minivans fell 11 percent.
But China gave hope to major global auto giants. General Motors sold a record 2.55 million units in China last year, a rise of 8.3 percent. Volkswagen also boosted China sales by 13.8 percent to 1.72 million units.
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