Homepage
PR Newswire
10-06-2013, 10:48 PM
Still growing and from high base - don't know what is all the grumbles about...
China car sales growth slows in May
From: AFP June 10, 2013 2:16PM
Increase Text Size
Decrease Text Size
Print
GROWTH in China's car sales slowed in May from a double-digit rise in April, an industry group says, as new data fuels concerns the world's second-biggest economy is faltering.
The country's vehicle sales rose 9.8 per cent year-on-year last month to 1.76 million units, the China Association of Automobile Manufacturers said.
In April, vehicle sales in China - the world's largest car market - had surged 13.4 per cent on the year.
Several May economic figures released over the weekend have raised concern over the outlook for China's economy, which grew 7.8 per cent in 2012, its worst performance in 13 years.
Car sales for the first five months of the year fared better, rising 12.6 per cent year-on-year to 9.03 million vehicles, the association said in a statement on Sunday.
"In the first half of the year, car production and sales will continue to maintain a more than 10 per cent increase, generally better than forecast at the beginning of the year," it said.
RECOMMENDED COVERAGE
Chinese banks cut lending in May
China may weigh on base metals: OCBC
China's growth remains sluggish
China's car sales rose only 4.3 per cent a year to 19.31 million units in 2012, hit by limits on numbers imposed by some cities to ease traffic congestion and tackle pollution.
Since last year, sales of Japanese brand vehicles have suffered from a territorial row between Beijing and Tokyo that sparked street protests and boycott calls, but other foreign car manufacturers have rushed to gain market share.
Sales of Japanese-brand passenger cars fell 11.5 per cent year-on-year in the first five months, the official Xinhua news agency reported.
But sales of German, American, South Korean and French passenger cars all grew more than 20 per cent in the period, it said, quoting the association.
China car sales growth slows in May
From: AFP June 10, 2013 2:16PM
Increase Text Size
Decrease Text Size
GROWTH in China's car sales slowed in May from a double-digit rise in April, an industry group says, as new data fuels concerns the world's second-biggest economy is faltering.
The country's vehicle sales rose 9.8 per cent year-on-year last month to 1.76 million units, the China Association of Automobile Manufacturers said.
In April, vehicle sales in China - the world's largest car market - had surged 13.4 per cent on the year.
Several May economic figures released over the weekend have raised concern over the outlook for China's economy, which grew 7.8 per cent in 2012, its worst performance in 13 years.
Car sales for the first five months of the year fared better, rising 12.6 per cent year-on-year to 9.03 million vehicles, the association said in a statement on Sunday.
"In the first half of the year, car production and sales will continue to maintain a more than 10 per cent increase, generally better than forecast at the beginning of the year," it said.
RECOMMENDED COVERAGE
Chinese banks cut lending in May
China may weigh on base metals: OCBC
China's growth remains sluggish
China's car sales rose only 4.3 per cent a year to 19.31 million units in 2012, hit by limits on numbers imposed by some cities to ease traffic congestion and tackle pollution.
Since last year, sales of Japanese brand vehicles have suffered from a territorial row between Beijing and Tokyo that sparked street protests and boycott calls, but other foreign car manufacturers have rushed to gain market share.
Sales of Japanese-brand passenger cars fell 11.5 per cent year-on-year in the first five months, the official Xinhua news agency reported.
But sales of German, American, South Korean and French passenger cars all grew more than 20 per cent in the period, it said, quoting the association.