Shanghai, December 10 (Gasgoo.com) Car sales in China fell 7.9 percent in November month on month to 361,710 units, a 8.1% decline from a year earlier, Shanghai Securities reported, citing the official data from the National Passenger Car Association (NPCA).
Rao Da, secretary-general of the association, said the economic slowdown affected the affordability of 40% to 50% prosumers among the new car buyers, which is a main reason for the passenger car market downturn.
The top ten automakers in November by sales are FAW-VW, Shanghai VW, Dongfeng Nissan, Shanghai GM, FAW-Toyota, Guangzhou Honda, Beijing Hyundai, Chery, BYD and Geely. Dongfeng Nissan made the top three for the first time. The Shanghai GM, down to No.4, saw November sales plummet by 30%.
Rao forecasted that the December sales would keep negative growth. "China hasn't issued any incentive policy for the auto market, so the market would not recover in Dec," Rao said.
The fourth quarter may have smaller negative growth in sales than the third quarter, but negative growth will be unchanged in both Dec. and the final quarter as a whole, he added.
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