January car sales hit record high 1.88m

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February 13, 2014

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January car sales hit record high 1.88m

By Lu Nengneng | February 13, 2014, Thursday |

Print Edition

China’s passenger car sales reached an all-time monthly high in January, with 1.88 million vehicles sold, industry data showed yesterday.

Deliveries of sedans, sport-utility vehicles, multi-purpose vehicles and minivans rose by 10.1 percent year on year last month, the China Passenger Car Association said.

Sales were 3.7 percent more than the highest monthly total last year — recorded in December.

The association’s Secretary-General Rao Da said the market, which achieved 17 percent growth last year, is still faring well.

“Two new groups of car buyers have been driving market growth since the fourth quarter,” Rao explained.

“These are panic buyers living in cities that may impose car purchase restrictions and civil servants buying their own cars because management of official fleets has been tightened,” Rao said.

But domestic carmakers — among which only Chang’an Automobile managed to make it into the top-10 in January — are still having a hard time, he added.

Car sales will continue growing this month, Rao predicted.

This is despite the Spring Festival holiday that saw many dealerships close for a week and the fact that bigger price cuts are expected in March, when the peak season arrives, he said.

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January car sales hit record high 1.88m

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