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March Auto Sales in China Up 55.8% to Record High

Automobile sales in China in March jumped up 55.8% year-on-year to a record 1,735,100 units, according to figures from the Automobile Association, the Ministry of Information Industry cited by the China Association of Automobile Manufacturers (CAAM). Production growth was up 57.7% to 1,734,400 units.

  • Passenger car sales were up 63.2% in the month to 1,264,900 units; production growth was up 41.3% to 1.3 million units.

  • For the first quarter of CY 2010, automobile sales rose 71.9% to 4.6106 million units. Sales of passenger vehicles in 1Q 2010 rose 76.3% to 3.5239 million units.

  • January 2010 auto sales also set a record monthly high, with sales doubling to more than 1.66 million units.

  • In 2009, vehicle sales in China rose to some 13.6 million units, making the country the world’s largest automobile market.

  • US light-duty vehicle sales in March were some 1.066 million units, according to Autodata, with 1Q CY2010 sales of 2.545 million units.

Comments

HarveyD

How long can China's vehicles production and sales keep going at this rate?

ToppaTom

How long can China's vehicles production and sales keep INCREASING at this rate?

I think that it can for as long as their society can remain stable on its present path.

As there middle class becomes more self aware, their totalitarian government will be in peril.

But we are getting easier to catch and surpass.

When we valued individual effort, personal responsibility and reaping the rewards of hard work, we were unbeatable and the envy of the world. But with envy comes dislike and dislike fosters guilt. And guilt by those who do not understand individual hard work is best assuaged by blaming those who are successful.

We are sinking rapidly into a welfare state with (the top) 1% of our population already paying more taxes than the bottom 95%.

- (Guess which voting block might favor more government excess.)

- Alexis de Tocqueville said:
“There exists also in the human heart a depraved taste for equality which impels the weak to attempt to lower the powerful to their own level, and reduces men to prefer equality in slavery to inequality with freedom.”

and

"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

Too late, we have arrived.

Arne

Prepare for oil prices above $150 by the end of the year.

Henry Gibson

Value added taxes are the solution to high oil prices. All importing countries should impose an exponential tax on the price of oil minus the cost of production. at a certain price spread, the importer will need to pay money to bring oil into the country.

This was similar to the former UK taxes on income where rich people had to pay more than they earned.

..HG..

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