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China's passenger car sales slow down in April
CHINA'S passenger car sales rose 10.83 percent in April, the slowest pace over the past five months, the China Association of Automobile Manufacturers (CAAM) said yesterday.
The weaker market demand has re-triggered market speculation of a possible slowdown on the world's second largest auto market this year that may fail to meet its full year expectation.
Domestic car makers sold a combined 604,900 cars, sport utility vehicles (SUVs), multi-purpose vehicles (MPVs) and minibuses last month, the association said in a statement. Sales in March rose 23.55 percent, the biggest increase in seven months.
"Slow sales growth in April is unusual," said Li Chunbo, an auto analyst from Citic Securities Co Ltd.
"The purchase desire could be possibly dampened because of people's lower income from the tamed stock market and real estate sector."
Car sales rose 7.96 percent to 444,600 units last month while SUV models emerged as a strong boost for the total with an year-on-year growth of 38.12 percent to 39,500 units.
Auto makers delivered 100,000 minibuses during the same period, an increase of 18 percent from a year earlier. MPV sales dropped 1.13 percent.
For the first four months, passenger car sales rose 17.8 percent to 2.46 million, CAAM said in the same auto report, adding the growth was 2.87 percentage points slower than the same period of last year.
Passenger car sales climbed 21.68 percent for past year to 6.29 million, lagging behind the 25.4-percent increase for 2006 from the 2005 level.
CAAM Vice Chairman Dong Yang said earlier that the segment would remain at a double-digit rate to hit 7.3 million units this year.
"The sales growth may be further shrunk to 18 percent this year," Li said.
FAW Volkswagen ranked first in the top 10 car makers with sales of 47,984 units in April, followed by Shanghai VW and Shanghai GM.
Beijing Hyundai moved up in its position from 12 to 6 last month after launching a revamped Elantra, which sold 11,023 units. The car maker sold a combined 298,300 units, representing 67 percent of the total.
The weaker market demand has re-triggered market speculation of a possible slowdown on the world's second largest auto market this year that may fail to meet its full year expectation.
Domestic car makers sold a combined 604,900 cars, sport utility vehicles (SUVs), multi-purpose vehicles (MPVs) and minibuses last month, the association said in a statement. Sales in March rose 23.55 percent, the biggest increase in seven months.
"Slow sales growth in April is unusual," said Li Chunbo, an auto analyst from Citic Securities Co Ltd.
"The purchase desire could be possibly dampened because of people's lower income from the tamed stock market and real estate sector."
Car sales rose 7.96 percent to 444,600 units last month while SUV models emerged as a strong boost for the total with an year-on-year growth of 38.12 percent to 39,500 units.
Auto makers delivered 100,000 minibuses during the same period, an increase of 18 percent from a year earlier. MPV sales dropped 1.13 percent.
For the first four months, passenger car sales rose 17.8 percent to 2.46 million, CAAM said in the same auto report, adding the growth was 2.87 percentage points slower than the same period of last year.
Passenger car sales climbed 21.68 percent for past year to 6.29 million, lagging behind the 25.4-percent increase for 2006 from the 2005 level.
CAAM Vice Chairman Dong Yang said earlier that the segment would remain at a double-digit rate to hit 7.3 million units this year.
"The sales growth may be further shrunk to 18 percent this year," Li said.
FAW Volkswagen ranked first in the top 10 car makers with sales of 47,984 units in April, followed by Shanghai VW and Shanghai GM.
Beijing Hyundai moved up in its position from 12 to 6 last month after launching a revamped Elantra, which sold 11,023 units. The car maker sold a combined 298,300 units, representing 67 percent of the total.
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