国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Motoring Opinion

China auto market growth slows sharply in January

(Agencies) Updated: 2014-02-14 11:31

?

China auto market growth slows sharply in January
Lines of cars are pictured during a rush hour traffic jam on Guomao Bridge in Beijing July 11, 2013. [Photo / Agencies]

Growth in China's auto market slowed to 6 percent in January, a third of the rate seen in December, partly weighed down by sluggish sales of commercial vehicles likes trucks and buses.

The relatively slow growth in the world's biggest auto market was also due to the week-long Chinese New Year holiday, or Spring Festival, starting at the end of January that resulted in fewer working days compared with 2013, analysts said. Most dealers close during the holiday, which fell in February last year.

The China Association of Automobile Manufacturers (CAAM) said on Thursday passenger vehicle sales rose 7 percent from a year earlier while commercial vehicle sales, which make up around 15 percent of the entire auto market, were virtually flat.

true "Companies typically don't invest much on commercial vehicles at the start of a year, and that was much more evident in January this year due to the timing of the Spring Festival," said Wan Dong, analyst at Capital Securities.

The overall market grew 17.9 percent in December last year and ended the 2013 year with a growth rate of 13.9 percent.

CAAM last month said the auto market would likely grow 8-10 percent in 2014, echoing views from industry experts and analysts that 2014 would be another strong year for China's auto market.

Foreign carmakers like General Motors Co (GM.N), Ford Motor Co (F.N) and Toyota Motor Corp (7203.T) reported double-digit growth in January, but some local players like Geely Automobile Holdings Ltd (0157.HK), posted sharp declines.

CAAM, whose members include China's biggest automakers like SAIC Motor Corp Ltd (600104.SS) and FAW Group, reiterated its opposition against any relaxation of foreign investment rules in the auto industry as indicated by several policymakers.

The Ministry of Commerce told a media briefing in November that the government would likely relax foreign investment restrictions soon in areas including auto manufacturing.

Currently, foreign ownership in a Chinese joint venture is capped at 50 percent.

"If China relaxes foreign ownership rules, it would be devastating to China's indigenous brands," CAAM, one of China's biggest industry associations, said in a statement. "Chinese local brands would be killed in the cradle."

China has required global automakers to form joint ventures in order to produce cars in the country, hoping that Chinese carmakers can absorb foreign technology and management expertise to become more competitive.

Hot Topics

Editor's Picks
...
...
衡南县| 谷城县| 邓州市| 徐汇区| 沿河| 凭祥市| 顺昌县| 大埔区| 宾阳县| 稷山县| 开江县| 盱眙县| 潼关县| 休宁县| 石渠县| 合肥市| 白河县| 绥滨县| 巴塘县| 花莲县| 句容市| 永平县| 鸡泽县| 松溪县| 绵竹市| 台湾省| 沁水县| 长乐市| 郁南县| 称多县| 综艺| 菏泽市| 东源县| 宁陕县| 新闻| 蛟河市| 全椒县| 遂川县| 钟祥市| 桂平市| 武胜县|