BEIJING - auto sales pink China by two digits in December as buyers rushed to take advantage of the expiration of the tax breaks but growth weakened after a wave focused on stimulation at beginning of the year, two industry groups reported Monday.
Global carmakers are turning to China, the largest market by number of vehicles sold, to help drive revenue in the middle of the low demand in the U.S. and other major markets.
Total passenger car sales rose 17.9% in December, more than a year earlier to 1.7 million units, China Automotive Manufacturers Association reported. He said fiscal year sales rose 33.2% to 13.7 million vehicles.
"Customers want to catch tax reduction policy and the last possible opportunity to obtain licences from the car in many cities of the North," said Zhang Xin in Guotai & Jun Automotive Analyst ' year Securities in Beijing. "I believe that growth will be barely last in 2011, unless y new out stimulus policy."
Sales of passenger cars, a category that includes no large buses, pink 26.7% in December from a year earlier to little less than 1.5 million units, said a separate group, the Association of China passenger car. He said, sales increased by 30.5% to 13.3 million vehicles.
Sale of cars have skyrocketed in early 2010 after Beijing Cup sales taxes and grants buyers to smaller vehicles and energy efficient.
China passed the United States in 2009 as the largest market by number of vehicles that the global financial crisis battered sales Americans.
General Motors Co. said sales of 2009 China GM-brand vehicles by the company and its local partners rose 29 percent to 2.35 million units. China passed the United States as the GM at the beginning of last year's market.
Toyota Motor Corp., said sales by the company and its local partners increased by 19% year last 846,000 vehicles. Ford Motor Co. said sales in China jumped last 40 per cent to 582,467 units, aided by a 52% increase in December.
The explosive growth of Chinese car owner has helped propel a domestic automotive and steel demand rising, but left Beijing, Shanghai and other cities jammed with traffic and choking smog.
Some cities are considering plans to address traffic problems by raising the costs of registration plate or impose other borders, according to industry analysts.
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Online:
China Association of automobile manufacturers: http://www.caam.org.cn
Blog by Director of the China passenger car Association: http://raodaauto.blog.sohu.com
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Researcher AP Ji Chen in Shanghai has contributed to this report.
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