Passenger car sales continue to rise
June 27, 2013 Category Automotive, Automotive Metals & Minerals
China’s passenger car sales continued to grow at a double-digit pace in May, thanks to new models unveiled at the country’s largest auto show in Shanghai in April. Deliveries of sedans, sport-utility vehicles (SUVs), multi-purpose vehicles (MPVs) and minivans last month rose 13.4% from a year earlier to 1.34 million units, the China Passenger Car Association (CPCA) said. “A large part of the orders lodged during the Shanghai Auto Show were fulfilled in May,” said Rao Da, Secretary General of the Association. Though May’s year-on-year rise in car sales slowed from the 16.6% growth in April, it was a confidence booster for an industry beset by many problems, including policies in large urban areas to limit the number of new license plates to ease congestion and reduce pollution. “It seems unlikely that the government will intervene this year,” Rao said. “The wholesale car industry may add 2 million units this year to 21.3 million units.” However, summer is traditionally a slack season for auto sales. By the end of this month, the inventory pressure at dealerships may mount again if they fail to attain their half-year sales targets, he added.
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