China’s car sales may decline 10% this year
Published May 27, 2011
Chinese Car News, Industry News | CCTMay 27, 201110:36 am
The boom years of 2008-2010 maybe reminised upon as the golden years of the Chinese auto market if Bloombergs prediction comes true, but the facts remain that April auto sales were the poorest for 27 months and May is not looking much better by early indications.
Chinas auto sales may fall 10 percent this year with the end of government stimulus policies and restrictions on car license plates, Zhao Hang, president of the China Automotive Technology & Research Center, said today.
The exit of government stimulus policies was abrupt judging from the current effects, Zhao said in Beijing. The slowdown of auto sales in the first four months was due to the phase out of government stimulus policies and measures to tackle traffic jams.
Chinas domestic automakers will be affected more by the slowdown given their low- to mid-end models, Zhao said.
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