NDRC researcher predicts Chinese automobile sales growth to decrease in 2013

Gasgoo.com (Shanghai April 1) - Chen Xin, researcher for the National Development and Reform Commission's Economic Research Institute, predicts year-on-year sales growth rates in the Chinese automobile market to slightly decrease this year, Xinhua reported today.

According to recent statistics from the National Bureau of Statistics, automobile sales in the country for the first two months of the year fell 6.9 percent. By comparison, sales increased 5.8 percent in January and February last year. Mr. Chen points out that growth rates have constantly been decreasing over the years, falling from plus 30 percent rates achieved in 2009 and 2010 to 14.6 percent in 2011 and 7.3 percent in 2012.

Aside from the phasing out of stimulatory economic policies near the end of 2010, Mr. Chen attributes the decrease in growth rates to the introduction of restrictions aimed at limiting the number of new automobile registrations in several Chinese cities and the increasing quality of Chinese public transportation, with new subway systems being established in several cities. When commenting on decreases in sales growth rates for other products, including home appliances, clothing, apparel, medicines, furniture and jewelry, Mr. Chen also points out that the relatively slow state of the economy has influenced consumer motivation.