Passenger car sales stay on track in March
Print Edition
CHINA’S passenger car sales, though slower than the previous double-digit pace, still managed to live up to expectations last month, the China Passenger Car Association said yesterday.
Sales of sedans, sport-utility vehicles, multi-purpose vehicles and minivans rose 9 percent in March from a year earlier to 1.59 million units.
Though the market started weaker than expected in the first week, it still met expectations by the end of March, a month that saw relatively few new product launches.
Following the increase in March, the combined sales volume of the first quarter went up 9.5 percent year on year to 4.6 million units while the second half of last year maintained its 10-plus percent growth.
Despite this, the association expects the passenger car market to grow 13 percent this year.
The upcoming Beijing auto show will feature a series of new product releases and ad campaigns that will boost consumer demand. And the panic buying triggered by rumors that vehicle purchase restrictions will be extended to more cities will be the key driver for the market’s high growth this year, adding an estimated 500,000 units to the sales.
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