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  HOME | Business & Economy (Click here for more)

Vehicle Sales in China Rise 11.6% in January

BEIJING Vehicle sales in China recovered double digit growth, climbing 11.6 percent year-on-year in January, to 2.8 million units, China Association of Automobile Manufacturers said on Friday.

The growth was far more than that recorded in December, of 0.1 percent and an average of 2017, of 3 percent.

The association attributed the growth to the low volume of sales with which they were compared.

In January 2017, sales had shown a year-on-year decrease of 1.1 percent and of 8.2 percent with respect to the previous month.

Poor sales in the first month of last year were mainly owing to the fact that economic activity had declined that month owing to the Chinese New Year, which in 2017 was celebrated on Jan. 28.

This year, the New Year has fallen next week, on Feb. 16, which means the decline in commercial activity in China is expected to occur this month.

Segment-wise, the most significant increase occurred in the sales of electric and hybrid vehicles, which shot up 400 percent with respect to the same month last year to 38,000 units, spurred by government incentives to encourage the use of less-polluting vehicles, including tax benefits, purchase discounts and the explicit order to government organizations to purchase more such vehicles.

 

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