Vehicle sales decelerate as govt cuts subsidies

    Updated: 2011-11-08 09:37

    By Li Fangfang (China Daily)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    Vehicle sales decelerate as govt cuts subsidies

    Car shoppers at a Ford dealership in Nanjing seek information from the sales staff. [Photo / China Daily]

    October transactions also affected by cooling economy, fuel prices

    BEIJING - Passenger vehicle sales in October showed the steepest year-on-year decline since 2008, as the government tightened up its 2-year-old subsidy policy for fuel-efficient models.

    Sales of sedans, sport utility vehicles, multipurpose vehicles and minivans dropped 4.2 percent year-on-year and 12.9 percent month-on-month to 1,111,263 units in October, the China Passenger Car Association said on Monday.

    Vehicle sales decelerate as govt cuts subsidies

    The figure compared with average year-on-year growth of 4.4 percent in the first 10 months.

    "The Golden Week (national day) holidays, the cooling economy and the rebound of gasoline prices on the world market all led to a sales decrease in October," said Rao Da, secretary-general of the association. "The withdrawal of subsidies for most fuel-saving vehicles helped produce the largest negative growth."

    The Ministry of Finance altered its 2-year-old subsidy policy for fuel-saving vehicles, making more than 70 percent of the original 427 models ineligible for the subsidies, effective Oct 1.

    "The total passenger vehicle production of 1,248,803 units, which grew by 5 percent from a year earlier, increased pressure on auto makers' inventory in October," said Rao.

    "Inventories will continue to increase in November, as we believe that this month's sales will also decrease from last year's number, and maybe even with a bigger negative growth rate."

    Rao said that China should not halt support for energy-efficient vehicles but instead should "further encourage the use of smaller engine capacity vehicles".

    Chen Qingtai, a senior researcher at the Development Research Center under the State Council, agreed with Rao.

    "The government should frame policies to promote the wide usage of fuel-saving and smaller vehicles," said Chen.

    According to Chen, in 2010, only 6 percent of new passenger vehicles had engine capacities of 1.0 liter or lower. In Japan, by contrast, the proportion had already reached 37 percent by 2008.

    Moreover, the average fuel consumption of passenger vehicles produced in China in 2010 was 18.3 percent higher than the average figure in Europe in 2008.

    "The shrinking market for small engine capacity vehicles also made China's domestic producers lose market share and profits," added Rao.

    "From a long-term perspective, it's hard for domestic automobile producers to catch up with foreign rivals in terms of technologies and products."

    General Motors Co said on Monday that it set an October sales record in China of 220,412 units, up 10.4 percent year-on-year.

    South Korea's Hyundai Motor Co also reported high monthly sales in October, the second time it breached the 100,000-unit barrier.

    The year-on-year sales growth of 13 percent reinforced China's top position in Hyundai's global market.

    Another US-based auto producer, Ford Motor Co, said sales in October were little changed from a year earlier.

    However, sales for the first 10 months in China jumped 9 percent to 426,814 units this year.

    国产在线无码视频一区二区三区| 欧美一级一区二区中文字幕 | 亚洲日本va午夜中文字幕久久 | 无码激情做a爰片毛片AV片| 一二三四在线播放免费观看中文版视频 | 色综合久久无码五十路人妻| 日本久久久久久中文字幕| 国产精品午夜无码AV天美传媒| 国产AV无码专区亚洲AWWW| 中文字幕免费在线| 亚洲中文字幕一二三四区苍井空| 精品久久久久久久无码| 亚洲av无码乱码国产精品fc2| 天堂网www中文在线资源| 久久精品aⅴ无码中文字字幕不卡| 日韩人妻无码精品无码中文字幕| 久久久久亚洲av无码专区| 亚洲AV无码专区国产乱码电影| 精品无码免费专区毛片| 中文字幕日韩理论在线| 精品久久久久久久中文字幕 | 人妻无码中文久久久久专区| 免费A级毛片无码无遮挡 | 一级电影在线播放无码| 国产白丝无码免费视频| 无码无套少妇毛多18PXXXX| 13小箩利洗澡无码视频网站免费 | 免费无码又爽又刺激高潮软件| 国产中文字幕乱人伦在线观看| 欧美激情中文字幕综合一区| 亚洲一区无码中文字幕| 日韩精品中文字幕无码一区| 中文字幕视频在线| 中文字幕在线免费看线人| 日本高清不卡中文字幕免费| 日韩中文字幕在线不卡| 亚洲欧洲中文日韩久久AV乱码 | 亚洲AV无码一区二区乱孑伦AS| 亚洲不卡中文字幕无码| 无码少妇一区二区性色AV | 日本阿v视频高清在线中文|