Skip to content
Catholic Online SHopping 20% off RE-Grand Opening SALE

RE-Grand Opening
FREE Shipping over $49 (lower 48)

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 AUGUST 2017
Artists.
That artists of our time, through their ingenuity, may help everyone discover the beauty of creation.


Comments


More Asia Pacific

Ten year old girl gives birth following rape in India Watch

Image of Thousands protested the infamous gang rape and murder of a woman and her companion in 2012.

A ten-year-old girl has given birth to a baby in India, following her rape by a family member. LOS ANGELES, CA (California Network) - A ... continue reading


North Korea launches purge against Christians as faith spreads across country Watch

Image of North Korea is the most dangerous place in the world for Christians.

Christians in North Korea are facing extreme persecution  as a purge against believers has started. A new report by the US government ... continue reading


North Korea backs down! But why did Kim Jong Un change his mind? Watch

Image of Kim Jong Un has cancelled a planned test to fire four ballistic missiles at Guam. It is apparent the risk of the test is too great for the country to take.

North Korea has backed down from threats to fire missiles at Guam. The reason for the reversal is unknown. The decision is the first step ... continue reading


Here's what being a missionary is like in North Korea Watch

Image of

What can a missionary in North Korea do to preach the Gospel in a Communist dictatorship? Simply care for the sick patients he is there to ... continue reading


BRINK OF WAR: North Korea pledges to fire missiles at Guam within days Watch

Image of North Korea has announced it is targeting Guam.

North Korea has announced a detailed plan to fire missiles at Guam. The missiles are intended to land just short of the island and will ... 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.