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Business & Finance

China's auto sales slide 2.4pc in November

Published Updated

autoSHANGHAI: Auto sales in China slid 2.4 percent in November from a year earlier to around 1.66 million vehicles, marking the second straight monthly decline, an industry group said Friday.

 

And auto production was around 1.70 million vehicles in November, down 3.4 percent from a year earlier, the China Association of Automobile Manufacturers said in a statement.

Sales fell an annual 1.1 percent in October, the first fall since May, according to previous figures.

Zhu Yiping, head of the industry group, said November sales and output were "not bad" and attributed the sales decline to a fall in the commercial vehicle segment and a high base of comparison, Dow Jones Newswires reported.

Sales of passenger vehicles -- which account for the bulk of sales in the world's biggest auto market -- rose just 0.3 percent to about 1.34 million units in November, the association said.

Commercial vehicle sales slumped 12.6 percent to 312,300 units, it said.

China's auto sales rose more than 32 percent last year to a record 18.06 million units, but the sector has since lost steam after Beijing phased out sales incentives such as tax breaks for small-engine vehicles.

The industry group has said it expects sales growth for 2011 to be just five percent, down from an earlier forecast of 10-15 percent.

 

Copyright AFP (Agence France-Presse), 2011

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