Arab Today, arab today growth in car sales hits lowest level since 1999
Last Updated : GMT 19:25:40
Arab Today, arab today
Arab Today, arab today

Growth in car sales hits lowest level since 1999

Arab Today, arab today

Arab Today, arab today Growth in car sales hits lowest level since 1999

Beijing - Xinhua

Sales of passenger vehicles in China increased by 2.8 percent from 2010 to 2011, the lowest growth rate recorded for those products since 1999. The decline came as the growth of the country\'s economy slowed and the government ceased favoring the industry with stimulus policies. Last year, China saw sales of 13.7 million passenger cars, sports-utility vehicles, multi-purpose vehicles and minivans. In December, the sales number declined by 3.3 percent below what it had been in the same month a year ago, said China Passenger Car Association on Tuesday. That helped prevent the number of automotive sales in China from exceeding 20 million last year. That sales number is to be released on Wednesday by the China Association of Automobile Manufacturers. It also brought an end to skyrocketing annual growth rates. The industry saw 46 percent growth in 2009 and 34 percent in 2010. \"The slowing down of the passenger vehicle market in 2011 is ensuring that the biggest automobile market in the world will return to a single-digit growth rate in the next several years,\" said Rao Da, secretary-general of the association. He said it will be hard to sell 20 million vehicles this year. He predicted that the number of vehicle sales occurring in China will increase by 7 percent to hit 19.8 million this year. And that will occur even if the country does not adopt a fuel tax, which he expects will come into existence in the fourth quarter of this year or in early 2013. \"And the number of passenger-vehicle sales will increase by 12 percent above the number in 2011 to hit 15.55 million units.\" Xu Changming, deputy director of the State Information Center\'s information resource department, also forecast that the number of China\'s passenger vehicle sales will increase by 10 to 15 percent this year. \"The dramatic sales drop in 2011 was caused by the government\'s lifting of policy incentives for car purchases, and it was further worsened by the country\'s macro tightening measures,\" Xu said. He said Chinese automakers will be faced with more difficulties in the future. Statistics from the China Passenger Car Association show that such companies saw their sales numbers decline by 7 percent from what they had been a year earlier. Even during the slowdown, those companies\' foreign rivals saw their sales of luxury vehicles increase by more than 30 percent from the year before. Moreover, a recent survey conducted by the automotive information website Gasgoo.com suggested that only 15 percent of those in the industry believe that domestic vehicles will sell better than other automobiles this year. Thirty-eight percent of the respondents placed their hopes for seeing that prediction come true into vehicles produced domestically by joint ventures formed between Chinese firms and foreign ones. Twenty-nine percent believed that models built by joint ventures would sell well and 17 percent expected the good results to come from imported models. Rao said that this year will be the most difficult year for domestic automakers, \"not only because of declines in sales, but because of shrinking profits\". \"International automakers will pay more attention to the Chinese market since they believe that winning in China is the first step toward winning the global market,\" Xu said. \"Severe market competition will increase the distance between foreign brands and Chinese automakers.\"  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today growth in car sales hits lowest level since 1999 Arab Today, arab today growth in car sales hits lowest level since 1999

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today growth in car sales hits lowest level since 1999 Arab Today, arab today growth in car sales hits lowest level since 1999

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday