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New models boost auto sales
By Jin Jing |
September 8, 2011, Thursday
|
Print Edition
Print Edition
CHINA'S passenger car sales rose 3.3 percent in August from a year earlier after manufacturers launched new models to lure consumers back to showrooms.
Domestic carmakers sold a total of 1.04 million units, including sedans, multi-purpose vehicles, sport-utility vehicles and minivans, last month, said the China Passenger Car Association yesterday. Auto deliveries in the first eight months gained 4.9 percent annually to 8.64 million units.
"An adequate market supply and bigger sales discounts helped to power demand," said Rao Da, secretary-general of the association. "But the sales growth narrowed from July and dealer inventories also piled up, indicating the market still lacks incentives'' to surge significantly.
Rao projected better sales this month as buyers rushed to order before a possible scrapping of subsidies for fuel-efficient cars.
"But I don't expect a major improvement without further government support," he said.
Auto sales, which surged 30 percent in China in 2010, grew only 3.2 percent in the first seven months of this year, mainly due to the expiry of tax benefits, a tightening monetary stance by the government and curbs on vehicle registrations in big cities.
Vehicle deliveries may grow 3 to 5 percent for this year, Xu Changming, an official at the National Development and Reform Commission, said last week. This is down from an earlier outlook of 10 to 15 percent by the China Association of Automobile Manufacturers.
Ford said August sales in China fell 7 percent from a year earlier to 34,916 units. It sold 11 percent more vehicles in the first eight months at 341,746 units.
General Motors' sales rose 13.4 percent to 205,885 units in China last month.
Domestic carmakers sold a total of 1.04 million units, including sedans, multi-purpose vehicles, sport-utility vehicles and minivans, last month, said the China Passenger Car Association yesterday. Auto deliveries in the first eight months gained 4.9 percent annually to 8.64 million units.
"An adequate market supply and bigger sales discounts helped to power demand," said Rao Da, secretary-general of the association. "But the sales growth narrowed from July and dealer inventories also piled up, indicating the market still lacks incentives'' to surge significantly.
Rao projected better sales this month as buyers rushed to order before a possible scrapping of subsidies for fuel-efficient cars.
"But I don't expect a major improvement without further government support," he said.
Auto sales, which surged 30 percent in China in 2010, grew only 3.2 percent in the first seven months of this year, mainly due to the expiry of tax benefits, a tightening monetary stance by the government and curbs on vehicle registrations in big cities.
Vehicle deliveries may grow 3 to 5 percent for this year, Xu Changming, an official at the National Development and Reform Commission, said last week. This is down from an earlier outlook of 10 to 15 percent by the China Association of Automobile Manufacturers.
Ford said August sales in China fell 7 percent from a year earlier to 34,916 units. It sold 11 percent more vehicles in the first eight months at 341,746 units.
General Motors' sales rose 13.4 percent to 205,885 units in China last month.
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