Auto sales in China increase by nine percent
By Catholic Online (NEWS CONSORTIUM)
4/9/2014 (3 years ago)
Catholic Online (www.catholic.org)
It's a sign of China's growing middle class - in addition to trying to beat the clock before new regulations go into effect. Passenger vehicle sales in China have risen nine percent year-on-year for the month of March. The sudden surge is driven by delayed new model launches ahead of the Beijing auto show. Chinese consumers also want to buy cars before curbs were introduced by the Hangzhou government.
Passenger vehicle sales in China have risen nine percent year-on-year for the month of March.
LOS ANGELES, CA (Catholic Online) - There were 1,588,792 cars, sport-utility or multi-purpose vehicles and minivans sold in the month of March. Figures from the China Passenger Car Association this week showed sales in the first three months of 2014 increased 9.5 percent to 4.6 million vehicles. This in spite of a weak February owing to the weeklong Spring Festival holiday.
"Passenger vehicle sales dropped a bit in the first week of March," Rao Da, the association's secretary-general says. They "gradually picked up until the boom in the final week when the Hangzhou government announced the purchase restrictions for new vehicles in the city".
Check out our fine selection of Bibles -- by going here!
After the government announcement on March 25, more than 70,000 vehicles were ordered in one day in Hangzhou, the capital of Zhejiang province.
"More than 10 cities are expected to launch similar limitations on vehicle purchases because of traffic and environmental considerations soon, so panic buying will add at least 500,000 vehicle sales this year," Rao said.
"This points to high growth in China's passenger vehicle market for the whole year," Rao added.
Rao predicted a similar sales number for April. More than 300 new model vehicles will be unveiled at the Beijing auto show, which will likely offset the impact of there being fewer working days this month.
"For the whole year, the association expects an annual increase of 10 percent in China's overall automobile market and 13 percent in the passenger vehicle sector," Rao said.
"Chinese homegrown automakers will be further challenged not only from a continued declining market share, but also shrinking exports to developing countries," Rao said.
Japanese automaker Nissan said this week that sales in China of its premium Infiniti brand grew 2.53 times in the first quarter, to 6,158 units compared with 2,434 in the same period last year.
Sales in China for US automaker General Motors rose to a record in March.
Copyright 2018 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for JANUARY 2018
Religious Minorities in Asia. That Christians, and other religious minorities in Asian countries, may be able to practise their faith in full freedom.
North and South Korea have reached a remarkable agreement to march into the Olympic games under a unified banner. In addition to the ... continue reading
The legal case against Cardinal George Pell of Australia has taken an unexpected turn, after the death of Damian Dignan, who accused Pell ... continue reading
Mt. Sinabung has erupted in Indonesia, and a new viral video has captured the moment a towering ash cloud hovered over villagers, raining ... continue reading
This year, North Korea has increased its missile and nuclear weapons testing at an unparalleled rate and they have threatened the United ... continue reading
Officials are preparing the U.S. territory of Guam for war with North Korea. Authorities have released a video, designed to educate ... continue reading
by Catholic Online
- Most Americans want abortion restricted, if not outlawed
- 5 Things You Need To Know About 'Offering A Mass' For A Loved One
- St. Agnes: Saint of the Day for Sunday, January 21, 2018
- Daily Reading for Monday, January 22nd, 2018 HD Video
- Science is transforming the pro-life debate for the better HD Video
- Daily Readings for Sunday, January 21, 2018
- Cardinal Dolan asks the faithful to pray against 'powers of darkness' ...
- Daily Reading for Tuesday, January 23rd, 2018 HD
- Daily Reading for Sunday, January 21st, 2018 HD
- Jobless claims are down - what does that mean for workers? HD
- Daily Reading for Saturday, January 20th, 2018 HD
Slow Burning Virtual Prayer Candle
Your contribution helps to maintain this corner of Catholic ... @ $11.25
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
The California Network
Inspiring streaming service
Learn the Catholic way
Teacher lesson plans & resources
Support Free Education
Tax deductible support Free education