No reining in Chinese vehicle firms
Updated: 2014-03-04 07:59
By Andrew Thomson (China Daily)
|
|||||||||||
|
A carmaker's promotion event in Guangzhou. Auto sales growth in China helped virtually every major manufacturer achieve record sales. Provided to China Daily |
China's car industry looks a sure bet to be a winner in the Year of the Horse.
Growth rates may not quite match those of 2013, when a 16 percent jump in sales surprised most observers, but total volume should still rise by about 10 percent to almost 20 million units.
|
|
Moreover, while the US will finally recover to its pre-global financial crisis sales level, China's total will be more than three times that of 2008, a tribute to the extraordinary advance of its auto industry while most of the rest of the world - and the entire developed world - has been stagnating.
Last year's growth helped virtually every major carmaker in China achieve record sales. The top performance was that of Ford Motor Co's, with a more than 50 percent rise in sales to 935,000 units, as it launched a slew of new models, including popular sport utility vehicles.
But Japan's big three carmakers (Toyota Motor Corp, Honda Motor Co Ltd and Nissan Motor Co) also had good years.
The leaders, however, remained General Motors Co and Volkswagen AG, which for the first time in nearly a decade reclaimed its crown as China's top automaker with total sales of 3.19 million units (ahead of GM, which had 3.16 million units).
South Korea's Hyundai Motor Co held onto third place with sales of just over 1 million.
Barring unexpected political or economic turbulence, these companies should all set further record highs in 2014. Measures aimed at curbing pollution and congestion via license plate quotas will affect sales in some of China's richer cities, but any decline in these locations will largely be offset by the fast-growing rise in demand coming from inland and lower-tier cities.
|
|
Top 10 most valuable auto brands | Top 10 moves by carmakers in China |
Related Stories
Growth in China support stable outlook for auto industry: Moody's 2014-02-28 10:54
China's new energy vehicles fueled up 2014-02-13 11:22
Vehicle sales accelerate to record 2014-02-13 08:27
China to extend electric car subsidies beyond 2015 2014-02-11 22:25
Year of Horsepower: Car industry shifts gears 2014-02-10 07:21
2013 Major Vehicle Recalls in China 2014-02-07 17:31
Today's Top News
Last 3 suspects caught in Kunming manhunt
Ukraine crisis hits Poland economy
Geely buys British startup Emerald
CNOOC licensed to seek Arctic oil
CNOOC licensed to seek Arctic oil
G7 leaders condemn Russia over Ukraine
Terrorist group in Kunming attack busted
Political advisers vow to help deepen reforms
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Terror attack survivors recount nightmare |
Mandarin or dialect? |
Landing scare grounds homemade planes |
Scientists search for clear answers on smog |
Safeguarding China's sunken riches |
Banknote buys new vision of history |