China November Car Sales Drop 10%
2008-12-08 Source：english.chinabuses.com
China’s November car sales plunged 10 percent, the biggest decline in more than three years, extending a global rout in auto demand that has caused carmakers to seek government support.
Sales dropped for the third month in four, sinking to 522,800 cars, sport-utility and multipurpose vehicles, the China Association of Automobile Manufacturers said in an e-mailed statement today. Before August, there hadn’t been a decrease for more than three years.
Dwindling sales in China, the world’s second-biggest auto market, add to the strain on automakers already wrestling with plunging demand in the U.S., Europe, Japan, Brazil and India. General Motor Corp., Ford Motor Co. and Chrysler LLC are seeking as much as $34 billion in U.S. aid to survive.
In the first 11 months, China’s industrywide car sales climbed 8.9 percent to 6.2 million. That compares with a 16 percent decline in the U.S. The European market slipped 5.4 percent in the first 10 months.
Emerging-market auto sales are also slumping as the effects of the global recession spreads. Brazil’s tally tumbled 25 percent in November, the most in at least six years, causing the local automakers’ association to cut its full-year forecast and warn of little growth next year. Indian car sales fell 6.6 percent in October.
Vehicle deliveries in China may fall short of a 10 million unit forecast this year, as slowing economic growth undermines consumers’ purchasing power, according to the China Association of Automobile Manufacturers. The industry’s consensus for growth next year is 5 percent to 10 percent, compared with a 22 percent gain in 2007.
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