Slowdown in auto sales expected this year

0 CommentsPrint E-mail China Daily, January 30, 2010
Adjust font size:

China's vehicle sales may experience a significant slowdown this year because of a large base but growth in the sector is still expected to be impressive, the Ministry of Commerce said on Friday.

China's vehicle sales may experience a significant slowdown in 2010 because of a large base but growth in the sector is still expected to be impressive.
China's vehicle sales may experience a significant slowdown in 2010 because of a large base but growth in the sector is still expected to be impressive, the Ministry of Commerce said on Friday. [File photo from www.pcauto.com.cn]

Auto sales this year are forecast to surge a little more than 10 percent from last year's figures to more than 15 million units, the ministry said.

The country's auto sales last year grew by 46.2 percent year-on-year, the fastest in more than a decade. Last year, 13.65 million units were sold to mark the nation as the world's largest auto market by overtaking sales in the United States for the first time.

"We are still confident of sales for 2010, as the government's policy to stimulate consumption at all levels will continue. But the robust growth momentum of last year cannot be sustained," said Chang Xiaochun, director of the department of market system development under the Ministry of Commerce. "Double-digit growth is not a difficult goal."

Auto analysts said the robust growth last year was mainly attributed to the government's stimulus packages.

Last year, China halved the sales tax on vehicles with an engine capacity of 1.6-liter or less to 5 percent. The authorities also provided 5 billion yuan ($732 million) in cash to help consumers replace old vehicles.

Sales of small vehicles reached 7.2 million units in 2009, up by 71 percent from 2008, while auto sales in rural areas also surged by 85 percent to 2 million units, ministry statistics showed.

To maintain stable growth in the auto market, the government last month also extended stimulus measures for another year, raising the tax on smaller cars to 7.5 percent from a favorable 5 percent last year.

"The budget allocated for the renewable vehicle program will rise by large margins and the subsidy for certain categories of vehicles will grow by 200 percent," Chang said.

But most analysts interviewed also said growth in the sector this year will not hit levels seen last year because of a large base.

"It will range from 15 to 20 percent, but China is expected to continue leading the global auto market," said Tan Jijia, an auto analyst from the Beijing-based Pacific Securities.

Klaus Maier, president and CEO of Mercedes-Benz China, told China Daily in an earlier interview that China's auto industry is expected to grow by 10 percent to 15 percent this year.

Related sectors to benefit

Other sectors are expected to gain from the auto sales growth.

"The double-digit growth means an optimistic prospect for steel mills that produce auto sheets," said Yu Liangui, an analyst from the Shanghai-based steel consulting firm Mysteel.

"All auto steel sheet producers in China ran with full capacity last year and they plan to expand capacity this year," Yu said.

China's largest steel maker, Baosteel, also announced enlarging its auto sheet capacity by 15 percent in 2010.

No more than 10 steel mills in China produce auto steel sheets because of the high value-added aspect of the sector.

"The competition is not fierce. All of them can reap profits from the booming auto market," Yu said.

Auto steel sheets consumption stood at 20 million tons in 2009, accounting for 4 percent of the country's total steel consumption, figures from industry portal Mysteel.com showed.

Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, said the growth in the auto industry will also boost the nation's crude oil imports, which surged 14 percent last year.

"More than 50 percent of the imports were consumed by the auto sector and the figure will grow this year," Lin said.

 

Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 国产无遮挡又黄又爽在线观看| 女bbbbxxxx另类亚洲| 亚洲av最新在线观看网址| 91九色在线播放| 少妇伦子伦精品无码styles| 久久91精品国产91久久户| 日韩大片在线永久免费观看网站| 免费高清在线爱做视频| 色婷婷精品大在线视频| 国产情侣真实露脸在线| a在线观看免费| 日本无遮挡h肉动漫在线观看下载| 亚洲av永久综合在线观看尤物| 欧美激情xxxx性bbbb| 亚洲色成人WWW永久网站| 青草热在线精品视频99app| 国产欧美日韩视频在线观看| 1024香蕉视频| 妇女被猛烈进入在线播放| 亚洲2022国产成人精品无码区| 精品一区二区三区AV天堂| 国产影片中文字幕| 婷婷久久五月天| 国产精品乱码一区二区三区| 中文字幕免费在线看线人动作大片 | 视频精品一区二区三区| 国产女人的高潮大叫毛片| 99久久免费精品高清特色大片| 女神捕电影高清在线观看| 一级毛片试看60分钟免费播放| 最近中文字幕完整版免费| 亚洲色偷偷偷综合网| 看全色黄大色黄女片爽毛片| 午夜精品视频任你躁| 美女被爆羞羞网站免费| 国产男女爽爽爽爽爽免费视频 | 六月婷婷网视频在线观看| 黄色一级黄色片| 国内精品久久久久久久久蜜桃| a级片在线观看视频| 天天射天天干天天插|