by Staff Writers
Shanghai (AFP) Aug 9, 2012
Growth in Chinese auto sales slowed to 8.2 percent on-year in July, traditionally a slack season in the world's largest car market, an industry group said Thursday.
Total vehicle sales were around 1.38 million vehicles, the China Association of Automobile Manufacturers said in a statement.
In comparison, China's auto sales rose 9.9 percent year-on-year in June to 1.58 million units, previous figures showed.
The nation's auto sales began to slow last year after the government rolled back buying incentives and some cities imposed tough restrictions on car numbers to ease chronic traffic congestion and pollution.
Just last month, the southern city of Guangzhou set rules to limit the number of cars through a quota on the number of vehicle number plates made available by the government.
China's overall vehicle sales rose just 2.5 percent to 18.51 million units in 2011, compared with an annual increase of more than 32 percent in 2010.
For the first seven months of the year, auto sales rose 3.6 percent to 10.98 million vehicles, the association said.
Some foreign brands have managed to buck the slowdown with strong brand recognition and perceptions of better quality among domestic consumers.
US auto maker Ford Motor Co. said Thursday that its China sales surged 32 percent year-on-year in July to 42,560 vehicles.
In the first seven months of this year, Ford sold 319,882 vehicles in China, up a more moderate 4.0 percent from the same period last year, it said in a statement.
Ford also announced this week that it would enter the heavy truck business in China through the acquisition of Taiyuan Changan Heavy Truck Co. by its Chinese partner Jiangling Motors Corp.
Car Technology at SpaceMart.com
Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.
Saab, Spyker file $3bn claim against GM
The Hague (AFP) Aug 6, 2012
Dutch carmaker Spyker said Monday that it has filed a three-billion-dollar (2.4-billion-euro) claim in a US court against General Motors, whose actions it said led directly to Swedish Saab's bankruptcy last year. "The lawsuit seeks redress for the unlawful actions GM took to avoid competition with Saab Automobile in the Chinese market," Saab's owner Spyker said in a statement issued in Zeewo ... 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|