Skip to content

Auto sales in China increase by nine percent

By Catholic Online (NEWS CONSORTIUM)
4/9/2014 (3 years ago)
Catholic Online (www.catholic.org)

Consumers rush to buy cars before curbs imposed by government

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.

Passenger vehicle sales in China have risen nine percent year-on-year for the month of March.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (www.catholic.org)
4/9/2014 (3 years ago)

Published in Asia Pacific

Keywords: China, auto sales, new regulations, panic buying


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.

---


'Help give every student and teacher Free resources for a world-class moral Catholic education'


Copyright 2017 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for JUNE 2017
National Leaders.
That national leaders may firmly commit themselves to ending the arms trade, which victimizes so many innocent people.


Comments


More Asia Pacific

Vatican asks for the release of bishop forcibly removed from diocese Watch

Image of Bishop Peter Shao Zhumin was forcibly removed from his diocese in May.

The Vatican is worried about what has happened to a bishop in China, who they say was ‽forcibly removed," and has now disappeared. LOS ... continue reading


North Korea's secret strategy slips out, and WHY they are developing a nuclear weapon capable of striking the USA Watch

Image of North Korean artillery on parade. It isn't their nukes we should be worried about, but rather their divisive diplomatic policy, designed to frighten the United States and South Korea apart. Once separated, the South becomes vulnerable, and the North strikes.

North Korea's strategy may have been revealed by Christopher Hill, the former U.S. Assistant Secretary of State for East Asia. According to ... continue reading


President Duterte apologizes for martial law, promises to rebuild as terrorists are down to a few neighborhoods Watch

Image of President Duterte has declared martial law in the city, that was momentarily overrun by terrorists. As the terrorists are crushed and the citizens begin to return, the work rebuilding begins.

President Duterte has apologized for declaring martial law in the city of Marawi, and he has vowed to rebuild after driving out ISIS-linked ... continue reading


Catholics violently terrorized by gangs in Vietnam Watch

Image of Vietnamese Catholics are the latest targets of a youth gang.

Vietnamese Catholics have become the targets of terror and hate crimes in north-east Vietnam. LOS ANGELES, CA (Catholic Online) - According ... continue reading


Christians remain under seige in Marawi, reduced to eating cloth to survive Watch

Image of The army has rescued hundreds of people, but 300-600 Christians still remain trapped in the city.

Christians are fleeing the city of Marawi in the Philippines, after Islamic terrorists affiliated with ISIS began killing and kidnapping ... continue reading


Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Catholic Online Logo

Copyright 2017 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2017 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.