Auto sales in China were up 8.3% in August, at a slower pace compared to the past years due to the sluggish economy and the recent fuel price rise.
The auto market is expected to improve this month, as the peak of the auto sales is usually reached in September, but still it would not reach the levels from the previous years. In August 2009 sales increased 82% due to Beijing’s stimulus packages and massive investment scheme that helped boost the sales of cars and trucks. In July 2012 sales increased only 8.2%.
“Car sales would usually pick up a bit in autumn during both good and bad times. But truck sales would stay weak unless GDP growth comes back to eight percent,” said Sheng Ye, associate research director for Greater China at industry consultancy Ipsos, speaking before the data was released.
According the China Association of Automobile Manufacturers China sold in August 1.5 million passenger cars and 12.47 million in the first half of the year, up 4.1%. Toyota’s sales in China decreased in August for the second consecutive month, while GM saw an increase of 7.3%, down from a 13.4% increase from last year.