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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (3581)10/20/2004 4:19:11 PM
From: RealMuLan  Read Replies (1) of 6370
 
Car sales rise 13.94%
www.chinaview.cn 2004-10-20 11:00:09

BEIJING, Oct. 20 (Xinhuanet) -- China's car sales rose 13.94 percent in September from August to 194,100 units, according to official data which signals further signs of life after months of weak growth caused by credit curbs.

Sales of sedans crept up 0.2 percent to 170,300 in August from July, earlier official data showed as the world’s No. 4 vehicle market felt the impact of controls on car loans to cool the fast-growing industry.

Car output rose 6.32 percent to 182,800 units last month from August, slower than the sales growth because of heavy inventories of manufacturers and dealers, said the China Association of Automobile Manufacturers as saying.

“The domestic automobile market will become warmer during the fourth quarter of this year as tight government controls on car loans are expected to loosen and many Chinese families can afford to buy cars,” said economist Xu Changming at the government think tank, the State Information Centre.

Growth in sedan sales in China has decelerated since the government clamped down on car loans this year, afraid that over-investment in pockets of the economy could generate more bad loans.

Car sales grew 20.68 percent year on year to 1.7 million units in the first nine months of this year while output rose 22.02 percent to 1.8 million units.

Industry analysts expect car sales to rise just 10-20 percent this year after doubling last year to about two million sedans.
news.xinhuanet.com
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