Passenger vehicle sales in China slowed down in March compared to the first two months of the year, mainly due to the stricter regulation imposed by the government on vehicle ownership aimed at controlling increasing pollution and traffic congestion in the country. According to the China Association of Automobile Manufacturers (CAAM), passenger vehicle (cars, multipurpose and sport- utility vehicles) sales rose 13.3% to 1.59 million units in March compared with a 19.5% increase in Jan-Feb this year.
Passenger vehicle sales grew 17.2% to 4.42 million units in the first quarter of the year, which is higher than 7.1% growth registered in 2012. Thanks to the steep discounts that kept passenger vehicle sales at a higher level in the world’s biggest auto market. Total vehicle (passenger vehicles, buses and trucks) sales grew 13.2% to 5.4 million units in the first three months of the year compared with 4.3% to 19.3 million vehicles in 2012.
Source: globalrubbermarkets.com
About us
Advertisements
Subscrible
Contact us
