The Big Call

Auto sales start to cool

  • Published 22 Apr 2010

A China Confidential survey of 50 auto dealerships reveals the key cooling trends behind the euphoric headlines for Q1 vehicle sales growth.

At some point, the stellar performance of China's auto market had to return to earth. After overtaking the US last year to become the world's largest auto market, sales growth in Q1 this year remained robust. Q1 sales of all autos reached 4.61m units, up 71.78% year on year, while sales of passenger cars totalled 3.52m units, up 76.34% year on year in the quarter. This represented an acceleration from the overall growth rate of 46% for vehicle sales during 2009 over 2008. Not only has this extraordinary trend boosted the fortunes of auto manufacturers, it has also acted as a key locomotive for the wider economy.

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