China's Q1 vehicle sales continue to top U.S. market

Shanghai, April 15 (Gasgoo.com) The Chinese auto market is still the world's Number one. According to the latest data of China Association of Automobile Manufacturers, China's vehicle production and sales hit record high of 4.55 million and 4.61 million units respectively for the first quarter of 2010, up 77% and 72% respectively year on year, as against about 3.08 mln units sold in the U.S. over the same period.

With a definite recovery in the auto market, the U.S. vehicle sales still can't outstrip China easily.

Over the past few decades, the U.S. had always been the world's largest automaker and auto market. Its new vehicle sales stayed at 16 mln units and peaked at 17 mln every year. Due to the financial crisis, the new vehicle sales in the U.S. has fallen significantly since 2008, with annual sales of only 10.43 mn in 2009, surpassed by the Chinese market.

In the first quarter, the U.S. auto market saw a definite recovery, and its annual vehicle production and sales are expected to rise to 13 mln vehicles; while the China auto market maintains a strong "China Speed", and its annual vehicle production and sales of record 15 mln have become a fait accompli.

It is generally predicted that China's auto market growth this year will be around 25%, to totally over 17 mln vehicles. Hence, the U.S. will have a fat chance to overtake China in vehicle sales.