Related News
Stimulus sparks rise in car sales
By Pan Xiaoyi |
June 6, 2009, Saturday
|
Print Edition
Print Edition
SOUTH Korea's Hyundai Motor and Japan's Honda reported strong growth in China sales last month.
The figures follow General Motors and Volkswagen reports of increased sales in China as more people bought cars with smaller engines after the government cut their purchase tax by half.
"The worst time of the auto industry has obviously passed thanks to government's stimulus package and boosted demand in the second and third-tier cities," said Li Chunbo, an analyst of CITIC Securities Co.
Hyundai Motor Corp, including its affiliate Kia, saw sales rise by 67 percent to 68,195 units last month, compared with the same period last year.
Guangqi Honda Automobile Co, one of Honda's joint ventures in China, said sales were up 9.43 percent last month from a year ago to 30,296 units. Its Accord model had sales of 14,048 units last month.
"We are optimistic about the second half after the auto market had stable growth in the January-May period. We expect more stimulus packages will be revealed to make sure growth remains sound," a Guangqi Honda official said.
The figures follow General Motors and Volkswagen reports of increased sales in China as more people bought cars with smaller engines after the government cut their purchase tax by half.
"The worst time of the auto industry has obviously passed thanks to government's stimulus package and boosted demand in the second and third-tier cities," said Li Chunbo, an analyst of CITIC Securities Co.
Hyundai Motor Corp, including its affiliate Kia, saw sales rise by 67 percent to 68,195 units last month, compared with the same period last year.
Guangqi Honda Automobile Co, one of Honda's joint ventures in China, said sales were up 9.43 percent last month from a year ago to 30,296 units. Its Accord model had sales of 14,048 units last month.
"We are optimistic about the second half after the auto market had stable growth in the January-May period. We expect more stimulus packages will be revealed to make sure growth remains sound," a Guangqi Honda official said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
