Saturday, May 6, 2017

China car market up 14% to 20 million sales

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Booming Chinese auto market is Terrific News For Western automakers.
Auto sales in China broke the threshold of 20 million last year, up nearly 14 percent and extending its lead as the world's biggest auto market, a Thursday industrial group.
Sales in China, the largest car market since 2009, the world jumped 13 percent to 21 September, 98 million vehicles last year, said the China Association of Automobile Manufacturers CAAM, as a recovery of Japanese brands offset the impact of slower economic growth.
Sales of passenger vehicles surged 15 percent year 7 to year 17 to 93 million units, the group said in a statement.
Huge Chinese car market is extremely important for foreign companies that have looked to its vast potential to take sales tracking relay in Europe, where sales of French cars have reached a low of 15 in 2013 and sales German cars also declined.
In the US, auto Total sales increased 6 percent 7-15 6 million vehicles in 2013, according to Autodata, their best annual performance in years.


In 2012, increased Chinese auto sales only 4 3 percent a year to 19 31 million vehicles, hurt by slowing domestic economic growth, limits on the number of cars imposed by cities to reduce pollution and congestion, and a territorial row between Beijing and Tokyo that hit sales of Japanese brand cars.
China's economy - already the second largest in the world - recorded its worst growth rate for 13 years in 2012, grew at an annual rate of 7 7 percent.
Growth probably in 2013-7 slipped 6 percent, the official media in December, just above the annual target of 5 percent 7 of the government.
But Japanese brands continued to recover from the recession in 2012, while political tensions grew over disputed islands in the East China Sea, causing some consumers to avoid products of their Asian neighbors.
Although the economic situation was bad in 2013, there were many catalysts for the automotive industry, said Cui Dongshu, deputy general secretary of the Association of passenger cars in China, another industry group.
There was strong demand for the replacement of old vehicles with new Japanese brands also rebounded after declining in 2012 as high domestic consumers esteem for them, he told AFP.



In his figures, CAAM said sales of passenger cars Japanese brand amounted to 2 93 million in 2013, but gave no percentage change.
Just in December, total sales of vehicles in China - both passenger and commercial - were up 17 percent year 9 Year 2 13 million units, CAAM said.
Some foreign companies have already announced record sales in China in 2013.
US auto giant General Motors has sold 3 16 million vehicles in the country last year, up 11 percent from 2012 4.
GM has maintained a good momentum of growth in the largest market for our company, despite a slight slowdown in demand for commercial vehicles, president of GM China, Matt Tsien said in a statement Tuesday.
Competitor Ford sold 935.813 vehicles in China last year, up 49 percent from 2012, the US company has introduced more new vehicles on the market.



But analysts could slow this year in car sales from 2013.
Sales should slow jerky government restrictions hampering vehicle sales are applied in cities in China, such as pollution levels have reached record levels, IHS Automotive senior analyst Namrita Chow said in a recent report.
Last month, the city of Tianjin has become the latest to limit cars by limiting the number of license plates, it publishes each year.
IHS forecasts passenger car sales increase of about 10 4 percent this year.
Cui of China passenger car vehicle sales forecast Association will increase by ten to 12 percent this year, as the single push of improved Japanese brands easier.



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