Chinese car sales continue to grow

The price of Chinese cars continue to fall, demand increases

In brief: Total sales of Chinese cars in the Middle Kingdom is growing amid falling prices for vehicles.

China continues to lower taxes on vehicles for private use. In addition, increasing dumping prices on cars made in China, as well as improved credit conditions for buying a car. Experts and analysts are confident that the market for Chinese cars may grow by 32% in annual terms.

Sales of cars in China in June rose at annualized rate of 14% and amounted to 1.13 million units. Compared with May, the rate, by contrast, declined by 5.25%. Sales of cars without commercial transport totaled 839.2 thousand units. Such data has led China Center for Automotive Technology and Research (CATRC). Sales of cars in China up to the I half rose by 30,5% – to 7.19 million units compared with January-June last year. Accordingly, sales excluding commercial vehicles increased by 25,6% in annual terms – up to 5.42 million units. The price of Chinese cars continue to fall, demand increasesThe volume of car production in the Celestial Empire in the I half rose by 44,4% – to 8.47 million vehicles, while the June figure on a monthly basis retreated to 1.4% – to 1.29 million compared with June last year, car production increased by 12,4%. The slowdown in June sales of cars in China is due, according to analysts, government measures to “cooling” of the national economy. However, authorities continue to provide vehicle manufacturers targeted subsidies. This week the data on the car market of the republic will also provide China auto industry association (CAAM).

Ukrainian Globalist
2010-07-05 11:59, Commodities.

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