China: vehicle sales go up 8.8% in April image

While passenger cars sales went up by 11.6% last month, total vehicle sales in China advanced at a slower pace, of 8.8%, to reach 2 million units.

The China Association of Automobile Manufacturers reported the sales were led by the 1.6 million cars sold in April, as contrary to the economy starting to slow down, foreign automakers continue to register huge demand for their models. For example, Ford made a 29% jump last month, after a 28% growth in March and a 67% surge in February, while Toyota – the world’s biggest automaker – managed a more modest, yet double-digit increase of 12.4%.

The association predicts that China’s automotive market would grow at a slower rate than in 2013, with a forecasted rise of 8-10 %, due to the economy slowing down and the rising restrictions imposed by some cities on new car registrations – designed to fight increased pollution and traffic congestion.

The China Association of Automobile Manufacturers also disclosed that auto sales locally grew 9.1% over those registered in the same period last year, reaching deliveries of 7.93 million vehicles. Still, the figure is 4.1% lower than the rise recorded for the same period of 2013 over 2012.

Via Reuters