The China Association of Automobile Manufacturers recently declared that car sales in the country rose 4.5% in March from a year earlier, to 1.4 million units.
Although passenger vehicle sales in March rose 15.4% from February, for the first three months of the 2012, passenger vehicle sales fell 1.3% from a year earlier to 3.77 million units. In March, a total of 1.4 million sedans, SUVs, MPVs and mini vans were sold in the country, up 1.0% from a year earlier. In the first quarter, auto sales fell 3.4% from a year earlier to 4.79 million units, with 1.16 million and 1.21 million sold in January and February, respectively.
After having jumped 33% in 2010 and 53% in 2009, China’s car market grew only by 5.2% in 2011, a significant cooling attributed to various factors, such as tax incentives for small cars, and local authorities’ initiatives aimed at easing ever-worsening traffic congestion in major cities, such as Beijing.