price discounts boost automobile sales in august
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

Price discounts boost automobile sales in August

Arab Today, arab today

Arab Today, arab today Price discounts boost automobile sales in August

Shanghai - Arabstoday

China\'s passenger car sales grew at a faster pace for a third straight month in August after manufacturers cut prices to attract customers. Deliveries of cars including multi-purpose and sport-utility vehicles to dealerships rose 7.3 per cent from a year earlier to 1.1 million units last month, the China Association of Automobile Manufacturers said yesterday in a statement. Sales rose 6.7 per cent in July and 6.2 per cent in June. They had fallen in May after Japanese automakers cut production in the aftermath of the March 11 earthquake. General Motors (GM) and its Japanese rivals Honda and Toyota introduced price discounts to offset slowing sales in the world\'s largest vehicle market, according to GM and J.D. Power & Associates. Kia, Volkswagen, and Peugeot are also introducing new models and revamping older ones to lure first-time buyers, said Klaus Paur, managing director at Synovate Motoresearch. \"All the car manufacturers are active in bringing new models in the market to complete their product range, and at the point of sale and dealership level, there is also price discounting,\" Shanghai-based Paur said before the announcement. Total vehicle sales rose 4.2 per cent in August to 1.38 million units, according to the auto group. In the first eight months of the year, overall sales expanded 3.3 per cent to 12 million units, with passenger-car sales gaining 6.1 per cent to 9.2 million units. Vehicle sales in China are forecast to slow this year from the 32 per cent growth rate in 2010, after the government removed sales-tax breaks and rebates for rural buyers in January. Auto demand also waned after the central bank raised interest rates five times since October and ordered lenders to set aside a record amount as reserves, according to industry analyst Dunne & Co. Sales at SAIC-GM-Wuling Automotive Co, GM\'s minivan venture with SAIC Motor, showed the biggest growth last month, the carmaker association said in the statement. SAIC-GM-Wuling introduced discounts for its minivans starting May and also rolled out a new China-only sedan, the Baojun 630, to cater to entry-level buyers in August. GM, the biggest overseas carmaker in China, said that August sales rose 13 per cent to 205,885. Toyota, Nissan and other Japanese automakers are working to make up for lost output after the earthquake and tsunami. Japanese automakers offered incentives starting in July after losing market share in the second quarter, Marvin Zhu, a J.D. Power analyst, said.

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*

price discounts boost automobile sales in august price discounts boost automobile sales in august

 



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*

price discounts boost automobile sales in august price discounts boost automobile sales in august

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 16:03 2017 Thursday ,21 December

US hits Myanmar general in new global rights sanctions
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