China Vehicle Sales to Grow Just 7% in 2013

www.chinatrucks.com: Vehicle sales in China, the world’s biggest auto market, rose a paltry 4.3% in 2012 the second straight year of single-digit growth after 2010, as a slowing economy and rising fuel costs weighed on China’s market demand.

But despite a slowdown in demand, China’s vehicle industry association says that vehicle sales in China could rise 7% in 2013 as the country is still relatively attractive for foreign automakers. Yin Hang. That’s better than last year’s 4.3 per cent and the miserable 2.5 per cent recorded in 2010. But it’s far from a return to the heady days of double-digit growth.

Figures from the China Association of Automobile Manufacturers show that China sold around 19.3 million vehicles in 2012. It rose 4.3% last year, up from 2.5% growth in 2011. But last year’s growth is still far below the robust double-digit expansion seen in 2009 and 2010.

 

Quoting data from the association, Reuters said that in 2012, automakers shipped 19.3m passenger cars, trucks and buses to dealerships in China, including 15.5m passenger cars.

Growth in passenger car sales, at 7.5 per cent last year, will continue to outstrip total vehicle sales, with a forecast increase of 8.5 percent.

 

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