China car sales jump 16pc in first four months
The decline in sales of domestic brands was marked. Mainland companies sold 570,120 cars in April, a market share of 39.62 per cent. Cui Dongshu, an analyst at the China Passenger Car Association (CPCA), said on his blog that while the market for medium-priced and luxury cars would grow this year, the outlook for imported high-end vehicles and cheap sedans was dim.
Mainland sales of passenger cars fell in April compared with March but rose on a year-on-year basis.
Figures from the China Automobile Manufacturers Association (CAAM) showed sales jumped 13 per cent year on year to 1.44 million units in April. On a month-on-month basis, sales dropped 9 per cent, which prompted analysts to warn of a further slowdown in coming months.
The decline in sales of domestic brands was marked. Mainland companies sold 570,120 cars in April, a market share of 39.62 per cent.
Cui Dongshu, an analyst at the China Passenger Car Association (CPCA), said on his blog that while the market for medium-priced and luxury cars would grow this year, the outlook for imported high-end vehicles and cheap sedans was dim.
Uncertainty over subsidy policies for buyers and carmakers and more stringent controls on car components are expected to dent sales in the coming months, according to Cui.
Passenger car sales rose 16.15 per cent year on year in the first four months, double CAAM's forecast of 8 per cent growth for the whole year.
