by Staff Writers
Shanghai (AFP) June 9, 2012
Vehicle sales in China rose 16 percent year-on-year in May to 1.61 million units, according to industry data Saturday, indicating a strengthening recovery in the world's biggest auto market.
In April total vehicle sales rose 5.2 percent to 1.62 million units, although from a higher base.
Sales of passenger vehicles accelerated by 22.6 percent year-on-year in May to 1.28 million vehicles, from 12.5 percent in April, according to figures from the China Association of Automobile Manufacturers quoted by Dow Jones Newswires.
A total of 6.33 million passenger vehicles were sold in China in the January-May period, up 5.48 percent from a year earlier.
For the first five months of the year, total auto sales rose 1.7 percent over the same period last year to 8.02 million units, Xinhua news agency said.
China's auto sales slowed sharply in 2011 after the government rolled back incentives and some cities imposed tough restrictions on car numbers to ease chronic traffic congestion and pollution.
Last year, vehicle sales rose just 2.5 percent to 18.51 million units in 2011, compared with an increase of more than 32 percent in 2010.
Foreign manufacturers in China have generally fared better despite the slowdown, helped by brand recognition and perceptions of higher quality, analysts say.
The first foreign manufacturer in China, US auto giant General Motors said Tuesday that its China sales for May surged 21.3 percent year-on-year to hit a record 231,183 vehicles.
GM sold more than 2.5 million vehicles in China last year.
According to state media, policymakers are considering reviving favourable policies for the auto sector by offering subsidies to buyers of smaller vehicles in rural areas to help boost consumption and spur the economy.
The move should particularly benefit Chinese manufacturers, which are strongest in this sector of the market.
Car Technology at SpaceMart.com
Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.
Sao Paulo struggles to upgrade creaking transport system
Sao Paulo (AFP) June 9, 2012
With huge traffic jams, ramshackle roads and a creaking infrastructure, Sao Paulo faces a daunting challenge as it races to upgrade its overwhelmed transportation system before it hosts the kickoff of the 2014 World Cup. Brazil's bustling economic capital ranks as the world's seventh most populous metropolitan area, with 20 million people, including 11 million who live within the city limits ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|