Car Sales up nearly 18% in the First Four Months
In spite of the unfolding global credit crisis and soaring energy prices, auto sales in China maintained double-digit growth since the beginning of the year. Passenger car sales rose 17.84% year-on-year in the first four months of 2008.
According to the China Association of Automobile Manufacturers (CAAM), sales reached 2.46 million cars, including 1.81 million sedans, 75,500 mini-vans and 141,300 sport-utility vehicles. And the figure for March was unusually large, showing the most rapid year-on-year growth in seven months.
Volkswagen AG’s two Chinese ventures — FAW Volkswagen and Shanghai Volkswagen — continued to top the sales list last month, as well as in the first four months. They are followed by the Detroit-based car maker’s venture with Shanghai Automotive Industry Corp, Shanghai GM. And domestic auto producers sold 463,100 sedans in the first four months, accounting for a 25.46% share of the total sedan sales.
China, the world’s second-largest car market, produced 8.88 million automobiles last year, of which 8.79 million were sold. And this year, auto sales are anticipated to exceed 10 million units, which stand for a 14% full-year sales growth.
Popularity: 21%
China used to be a “bicycle kingdom”. But now with the number of wealthy people rapidly increasing, the presence of private cars in the country is ever expanding. This is especially true in such metropolises as Shanghai, Beijing and Shenzhen.