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China sold 530,700 passenger vehicles in January, up 35.9 percent Y/Y
Shanghai. February 14 (Gasgoo.com) China sold a record amount of 530,700 passenger vehicles in the first month of this year, which represents a growth of 3.5 percent month-on-month and a 35.9 percent growth year-on-year, according to latest statistics from National Association of Passenger Vehicles Manufacturers.
Heavy snowstorms in January disrupted vehicle production in many regions in southern China. It must be a surprise to many people that China’s vehicle sales in January surged 35.9 percent from one year earlier.
"One the one hand, many carmakers did not transfer their stockpiles to dealers in the last month of last year and consequently dealers are under no pressure to sell their inventory this January,” explained Rao Da, secretariat of National Association of Passenger Vehicle Manufacturers.
"On the other hand, some car makers have understated their sales figures last year in order to make it look better this year,” Rao said.
Official statistics show FAW-VW leads China’s passenger vehicle sales in January by selling out 65,700 vehicles and it is followed by Shanghai-VW’s 45,000 in January. Industry insiders say FAW-VW has understated its sales numbers last year in order to hit a record target 600,000 this year.
Rao believes China’s car sales will not cease to grow until China puts oil consumption tax in place. For the time being, China has no restrictions on the imports of luxury and large displacement passenger vehicles.
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