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Home » Opinion » Chinese Views
Fashion fuels trend for auto purchase
Source: Xinhua |
January 28, 2010, Thursday
|
Print Edition
Print Edition
EDITOR'S note:
What makes a better city, better life: more bicycles or more cars? Your comments are welcome on the following story from Xinhua news agency.
SHEN Lu just bought herself a red Mazda 3 as a New Year's present.
"It looks beautiful and has a lot of space. I bought it to replace my old car, a small Chery QQ," said the 27-year-old IT professional. "Cars with displacement of 1.6 liters, like the Mazda 3, are cheaper with lower purchase tax."
Shen's Mazda is part of the mushrooming auto fleet that expands by 1,500 new vehicles every day in Beijing, a city that already has 5.7 million drivers and over four million automobiles.
The young white-collar represents a consumer group that is pushing China, newly crowned as the world's top auto maker and market, to become a larger auto market in the coming years.
China's auto sales rose 46.15 percent year on year to 13.64 million units last year, and output went up 48.3 percent to 13.79 million units in the same period, according to the China Association of Automobile Manufacturers.
Shen Lu remembers how she envied her classmates whose families had cars when she was still a school girl, and now she has already bought her second car.
To encourage the use of cleaner and more fuel-efficient cars, the government cut the purchase tax last year to 5 percent on vehicles with a displacement of less than 1.6 liters.
According to Jia Xinguang, an independent auto industry analyst, more and more young people buy cars because they want to follow the fashion. "These young people like fancy looking, cheap cars that look like racers or SUVs. For some of them, to look fashionable is the main reason for purchase."
The rural market for cars is also expanding. Last year, China had started to subsidize vehicle buyers in rural areas, with 10 percent of price subsidized.
Boosted by the stimulus policy, sales of light trucks, which are widely used in rural areas, increased by 17.35 percent to 1.13 million units year on year in the third quarter last year, according to the China Automobile Dealers Association.
The Ministry of Finance reported that by the end of 2009, China had provided 8.7 billion yuan (about US$1.27 billion) of subsidies for rural auto purchase, covering 5.83 million autos.
Shao Qihui, honorary chairman of the Society of Automotive Engineers of China, said that in 2009, vehicles in rural areas could only meet 30 percent of the total demand for rural transportation.
Relatively low income in the rural areas compared with cities hampered rural vehicle consumption, and trucks, tractors and even horse carts were used for passenger transport in the countryside.
What makes a better city, better life: more bicycles or more cars? Your comments are welcome on the following story from Xinhua news agency.
SHEN Lu just bought herself a red Mazda 3 as a New Year's present.
"It looks beautiful and has a lot of space. I bought it to replace my old car, a small Chery QQ," said the 27-year-old IT professional. "Cars with displacement of 1.6 liters, like the Mazda 3, are cheaper with lower purchase tax."
Shen's Mazda is part of the mushrooming auto fleet that expands by 1,500 new vehicles every day in Beijing, a city that already has 5.7 million drivers and over four million automobiles.
The young white-collar represents a consumer group that is pushing China, newly crowned as the world's top auto maker and market, to become a larger auto market in the coming years.
China's auto sales rose 46.15 percent year on year to 13.64 million units last year, and output went up 48.3 percent to 13.79 million units in the same period, according to the China Association of Automobile Manufacturers.
Shen Lu remembers how she envied her classmates whose families had cars when she was still a school girl, and now she has already bought her second car.
To encourage the use of cleaner and more fuel-efficient cars, the government cut the purchase tax last year to 5 percent on vehicles with a displacement of less than 1.6 liters.
According to Jia Xinguang, an independent auto industry analyst, more and more young people buy cars because they want to follow the fashion. "These young people like fancy looking, cheap cars that look like racers or SUVs. For some of them, to look fashionable is the main reason for purchase."
The rural market for cars is also expanding. Last year, China had started to subsidize vehicle buyers in rural areas, with 10 percent of price subsidized.
Boosted by the stimulus policy, sales of light trucks, which are widely used in rural areas, increased by 17.35 percent to 1.13 million units year on year in the third quarter last year, according to the China Automobile Dealers Association.
The Ministry of Finance reported that by the end of 2009, China had provided 8.7 billion yuan (about US$1.27 billion) of subsidies for rural auto purchase, covering 5.83 million autos.
Shao Qihui, honorary chairman of the Society of Automotive Engineers of China, said that in 2009, vehicles in rural areas could only meet 30 percent of the total demand for rural transportation.
Relatively low income in the rural areas compared with cities hampered rural vehicle consumption, and trucks, tractors and even horse carts were used for passenger transport in the countryside.
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