China New car sales Forecast for 2nd consecutive year decrease 11/11/11 18:41
China's last month's sales of new cars were below the same month of the previous year for 16 consecutive months, and executives from industry groups had a severe outlook for the second consecutive year of decline. .
According to the announcement by the China Automobile Manufacturers Association, which is made by automakers, the number of new cars sold in China last month was 2.284,000 units, 4% lower than the same month last year.
Although the decline was 1.2 points smaller than the previous month, unit sales have been below the same month of the previous year for 16 consecutive months.
Looking at the breakdown of sales by vehicle type, the main sedan decreased by more than 10% and SUVs, which are popular in China, remained almost flat.
In addition, electric vehicles and plug-in hybrid vehicles also dropped to about half of the previous year due to the significant reduction in purchase subsidies, and the Chinese new car market continues to show no signs of recovery.
An executive of the China Automobile Manufacturers Association, who had a press conference, said that the forecast for the annual sales volume of this year is about 8% lower than last year and is expected to be about 26 million units. Following last year, which was lower than the year, we showed a severe outlook for the second consecutive year of decline.