Passenger vehicle sales in China jumped 7.9 percent in March 2014

Article by Christian A., on April 14, 2014

Passenger vehicle sales in China surged 7.9 percent in March while wholesale deliveries jumped to 1.7 million units, according to the China Association of Automobile Manufacturers. In 2013, the association identified eight Chinese cities that may restrict car purchases, with two of them -- Hangzhou and Tianjin – already imposing such measures.

According to the Passenger Car Association, orders for vehicles reached 70,000 in Hangzhou on the day the city imposed quotas on new license plates. It is estimated that such panic purchases could boost vehicle sales in China by 500,000 units in 2014.

Xu Minfeng, an analyst at Central China Securities Holdings remarked that since 2013, there have been fears of ownership restrictions, noting that Hangzhou followed recently after the city of Tianjin started limiting vehicle registrations. In the first quarter of 2014, General Motors outsold Volkswagen AG to regain the sales lead among foreign carmakers in China.

GM posted a 13-percent jump in sales in China to 919,114 vehicles in the quarter, while Volkswagen logged a 14-percent leap in sales in China -- including Hong Kong – to 880,700 units. Overall, vehicle sales in China surged 6.6 percent to 2.2 million units in March and 9.2 percent to 5.9 million units in the first quarter of 2014.

Domestic brands accounted for 39.3 percent of industry sales, registering its seventh consecutive month of decline, according to CAAM. The association’s Secretary General Dong Yang remarked that drop exposes the weak competitiveness of domestic brands, which may continue for a while. He noted that the time for local brands to melee against foreign brands has already started and the outlook for them “isn't optimistic."

If you liked the article, share on:

Topics: china, sales

Comments

Recommended

Lynk & Co, a carmaker founded just two years ago, is introducing its third production model: the Lynk & Co 03 sedan. This new model – derived from a concept...
by - August 10, 2018
It is quite common to see Mercedes-Benz taxis plying the streets of Germany. Mercedes-Benz E-Class taxi models can be found in almost every taxi stand throughout the country. In fact,...
by - August 10, 2018
The final production model of the 2019 BMW X7 is already set to be unveiled to the global public at the upcoming Los Angeles Auto Show in November. Yet would-be...
by - August 8, 2018
When the seventh-generation 2019 Lexus ES was unveiled in China in April, the all-new premium sedan managed to draw attention from customers around the world. For customers in the United...
by - August 8, 2018
Acura is rolling out this month the latest iteration of its mid-size three-row luxury sports utility vehicle – the 2019 Acura MDX. The sixth installment of Acura’s third-generation luxury SUV,...
by - August 1, 2018