Analysis: Predictions for the Chinese automobile market in Q2

Gasgoo.com (Shanghai) - Following a steep fall in the growth rate in the Chinese automobile market last year, several experts were looking forward to the industry's recovery in 2012. However, that recovery has yet to appear, with sales figures from the first quarter of the year being lackluster at best. According to statistics from the China Association of Automobile Manufacturers, a total of 4.79 million domestically made vehicles were sold in the first quarter, with 3.77 million of them being passenger vehicles. Both numbers represent year-on-year decreases of 3.4 percent and 1.25 percent, respectively. Commercial vehicle sales fell even further, decreasing a full 10.6 percent from the previous year. Although prospects for the first quarter were not especially high, not many predicted how poor the market would ultimately be.

Jun. 5 , 2012