Sales forecast cut
Source: Bloomberg News |
October 12, 2011, Wednesday
|
Print Edition
Print Edition
CHINA'S automaker association cut its 2011 sales forecast for the second time in three months, saying yesterday that deliveries may grow less than 5 percent.
Sales will improve next year because there's still "fundamental demand" for vehicles, Dong Yang, vice head of the China Association of Automobile Manufacturers, said yesterday.
The forecast is down from the group's July forecast of 5 percent growth.
The revised projection is less than half of the group's estimates in January for sales growth of 10-15 percent, and follows a government move that month to end sales-tax breaks and rebates. Vehicle sales in China grew 32 percent in 2010.
Sales will improve next year because there's still "fundamental demand" for vehicles, Dong Yang, vice head of the China Association of Automobile Manufacturers, said yesterday.
The forecast is down from the group's July forecast of 5 percent growth.
The revised projection is less than half of the group's estimates in January for sales growth of 10-15 percent, and follows a government move that month to end sales-tax breaks and rebates. Vehicle sales in China grew 32 percent in 2010.
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