China’s car market has begun 2015 with an 8.7% sales gain in the first two months of the year, suggesting that demand is cooling in line with a slowing Chinese economy.
In the first two months of this year, wholesale deliveries of passenger vehicles including sedans, sport-utility-vehicles and minivans were up to 3.43m units according to data released by the China Association of Automobile Manufacturers (CAAM).
Go deeper with GlobalData
Sales of all vehicles – including commercial vehicles – were 4.3% up in the first two months to stand at 3.91m units.
Figures released separately by some vehicle makers also point to slowing sales in the world’s biggest car market. GM’s China sales were flat in the first two months and BMW said it targets high single-digit sales growth in China this year, compared with a 17% gain in 2014.
China’s government has forecast economic growth of around 7% in 2015, significantly below the 10% or more annual expansion that had become ‘normal’ over the past ten years.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
