Article brought to you by: Catholic Online (www.catholic.org)

Passenger car sales hit new high in China

By Catholic Online (NEWS CONSORTIUM)
December 10th, 2012
Catholic Online (www.catholic.org)

In a sign that China is joining the west in personal transportation, passenger-vehicle sales hit a record last month as a series of positive indicators boosted the market. Overall, a total of 1.419 million cars, SUVs, multi-purpose vehicles and minivans were sold last month, representing a 13 percent year-on-year increase, according to data from the China Passenger Car Association.

LOS ANGELES, CA (Catholic Online) - The figure showed that total sales for the first 11 months jumped 6.6 percent year-on-year to 13.12 million. "Many new models launched at the just-finished Guangzhou Auto Show as well as a fuel price cut greatly supported the market performance," Rao Da, secretary-general of the association says.

He also added that the 18th National Congress of the Communist Party of China last month helped boost confidence in the sector.

Deputy Secretary-General of the Association, Cui Dongshu said that the Guangzhou Auto Show last month helped passenger-vehicle sales surge more than 20 percent the end of November.

"More impressively, China's homegrown brands recovered in the domestic market as their share of the passenger-car sector reached 35.1 percent, the highest in 20 years," Rao said.

A rebound in sales of Japanese cars also helped the domestic vehicle market. Sales of Japanese products have been hit by the row between China and Japan over the Diaoyu Islands.

Japanese car makers saw sales boom by more than 50 percent from October, Cui said. Toyota Motor Corp declared its new-car sales in China fell 22.1 percent in November year-on-year to 63,800, but that was an improvement from a 44.1 percent decline in October and a 48.9 percent drop in September.

In addition, Honda Motor Company delivered 41,205 vehicles to Chinese customers, a year-on-year drop of 29.2 percent.

Rival car makers from Germany, the United States and South Korea, with Japanese automakers losing market share in the world's largest vehicle market have found this a golden opportunity for to boost their sales.

General Motors, the biggest foreign automaker in China by sales, reported last week that it has set an annual sales record in China, even though there is still a month to go. With domestic sales of 260,018 vehicles in November, GM's sales for the year reached 2,593,642 in the first 11 months, surpassing the 2,547,171 vehicles it sold in China for the whole of 2011.

Article brought to you by: Catholic Online (www.catholic.org)