Tax Cut Spurs 25% Rise in Chinese Auto Sales
2009年3月11日
Auto sales in China surged 25% last month from a year earlier to 827,600 vehicles as a tax cut for small cars helped end three months of declines.
The purchase tax on vehicles with 1.6-liter engines and smaller was cut in half in late January to 5%, helping to push sales of those cars up 19% in the first two months this year from a year earlier to 859,300 units, said the China Association of Automobile Manufacturers, a semiofficial industry group.
February's sales growth, the fastest in more than a year, was inflated by the timing of the weeklong Lunar New Year holiday, which took place in February last year but in January this year, said BNP Paribas analyst Charles Huang.
For January through February, vehicle sales rose 2.7% to 1.56 million vehicles, the association said. Sales of passenger vehicles rose 5.8%, while those of commercial vehicles fell 6.9%.
February's pace is unlikely to be sustained.
'Double-digit growth in March will be difficult,' Mr. Huang said. But he said double-digit growth toward year-end is possible after China's four trillion yuan ($585 billion) economic stimulus kicks in.
Mr. Huang said he expects China's auto industry to grow 8% this year, with sales growth for passenger vehicles faring better than for commercial vehicles, which are more dependent on economic growth. Growth in commercial-vehicle sales may be less than 5% or flat, he said.
China overtook the U.S. to be the biggest light-vehicle market in January U.S. consumers bought 656,976 cars and light trucks in January, while 710,464 light vehicles were sold in China, according to JD Power.
Patricia Jiayi Ho
The purchase tax on vehicles with 1.6-liter engines and smaller was cut in half in late January to 5%, helping to push sales of those cars up 19% in the first two months this year from a year earlier to 859,300 units, said the China Association of Automobile Manufacturers, a semiofficial industry group.
February's sales growth, the fastest in more than a year, was inflated by the timing of the weeklong Lunar New Year holiday, which took place in February last year but in January this year, said BNP Paribas analyst Charles Huang.
For January through February, vehicle sales rose 2.7% to 1.56 million vehicles, the association said. Sales of passenger vehicles rose 5.8%, while those of commercial vehicles fell 6.9%.
February's pace is unlikely to be sustained.
'Double-digit growth in March will be difficult,' Mr. Huang said. But he said double-digit growth toward year-end is possible after China's four trillion yuan ($585 billion) economic stimulus kicks in.
Mr. Huang said he expects China's auto industry to grow 8% this year, with sales growth for passenger vehicles faring better than for commercial vehicles, which are more dependent on economic growth. Growth in commercial-vehicle sales may be less than 5% or flat, he said.
China overtook the U.S. to be the biggest light-vehicle market in January U.S. consumers bought 656,976 cars and light trucks in January, while 710,464 light vehicles were sold in China, according to JD Power.
Patricia Jiayi Ho
小排量车购置税下调推动中国汽车销量飙升
中
国2月份汽车销量较上年同期增长25%，至827,600辆，小排量车的车辆购置税下调帮助终止了连续3个月的下滑势头。中国汽车工业协会公布，由于中国1月末将排量在1.6升以下车型的车辆购置税下调了一半，至5%，小排量汽车今年1-2月销量较上年同期增长19%，至859,300辆。
中国汽车工业协会公布，今年1至2月，汽车销量增长2.7%，至156万辆。乘用车销量增长5.8%，而商用车销量下降6.9%。
2月份的增幅不太可能持续保持。
Huang说，3月很难实现两位数的增幅；但在中国4万亿人民币（合5,850亿美元）经济刺激计划到位后，汽车销量到今年年底实现两位数增长是可能的。
Huang预计中国汽车行业今年增长8%，乘用车的销量增长情况会好于更依赖经济增长的商用车；商用车销量增幅可能不超过5%。
今年1月，中国取代美国成为最大的轻型车市场。据JD Power的数据，美国1月份小汽车和轻型卡车销量为656,976辆，中国为710,464辆。
Patricia Jiayi Ho
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