China auto sales growth slows in April

AFP, SHANGHAI:   Auto sales in China, the world’s biggest car market and crucial to worldwide manufacturers, grew more slowly in April than the previous month as the economy faltered, data from an industry group showed yesterday.
Sales reached 2.12 million units in April, up 6.3 per cent year-on-year, the China Association of Automobile Manufacturers (CAAM) said.
But both the growth and total sales fell short of March, when vehicle sales rose 8.8 per cent to 2.44 million units.
China’s economy—the world’s second largest—grew 6.7 per cent year-on-year in the first quarter, its slowest expansion in seven years. But economic figures for April have dashed hopes for a rebound in the economy.
Auto sales reached 24.6 million last year and in October the government sought to boost the market by slashing the purchase tax on passenger cars with small engines in October.
Sales of passenger cars with engines smaller than 1.6 litres rose 12.1 per cent in April from a year earlier to 1.28 million units, CAAM said in a statement.
Some foreign auto makers outperformed the overall market. US auto giant General Motors sold 277,979 vehicles in April, up 7.5 per cent year-on-year, the company said.

China auto sales growth slows in April

AFP, SHANGHAI: Auto sales in China, the worlds biggest car market and crucial to worldwide manufacturers, grew more slowly in April than the previous month as the economy faltered, data from an industry group showed yesterday. Sales reached 2.12 million units in April, up 6.3 per cent year-on-year, the China Association of Automobile Manufacturers (CAAM) said. But both the growth and total sales fell short of March, when vehicle sales rose 8.8 per cent to 2.44 million units. Chinas economythe worlds second largestgrew 6.7 per cent year-on-year in the first quarter, its slowest expansion in seven years. But economic figures for April have dashed hopes for a rebound in the economy. Auto sales reached 24.6 million last year and in October the government sought to boost the market by slashing the purchase tax on passenger cars with small engines in October. Sales of passenger cars with engines smaller than 1.6 litres rose 12.1 per cent in April from a year earlier to 1.28 million units, CAAM said in a statement. Some foreign auto makers outperformed the overall market. US auto giant General Motors sold 277,979 vehicles in April, up 7.5 per cent year-on-year, the company said.