Chinese car sales leave US eating dust

爱国爱港

http://www.nzherald.co.nz/motoring/news/article.cfm?c_id=9&objectid=10615290


4:00 AM Monday Dec 14, 2009


SHANGHAI - China has overtaken the United States as the world's biggest market for motor vehicles, the first time any country has bought more than the nation that produced Henry Ford, the Cadillac and the minivan.

Now that the Chinese buy more cars and trucks than Americans, the shift could produce ripples for the environment, fuel prices and even the kinds of cars manufacturers design.

More than 12.7 million cars and trucks will be sold in China this year, up 44 per cent from the previous year and surpassing the 10.3 million forecast in the US, according to J.D. Power and Associates.

China has long been expected to overtake the US since its population of 1.3 billion is more than quadruple that of the United States. But the increase in sales happened much faster than anyone expected because of China's tax cuts, its stimulus programme and a depressed American market.

Two years ago, J.D. Power predicted China would pass the US in 2025. Earlier this year, it forecast 2009 sales of just nine million vehicles for China.

After a sharp slowdown in sales late last year, the Chinese Government cut taxes on small cars and spent US$730 million ($1 billion) on subsidies to encourage sales of four-wheel-drives, trucks and minivans. A big stimulus programme also boosted truck sales by pumping money into construction.

Most experts think the top-sales title will shift back and forth between China and the US for the next several years, with China ultimately prevailing.

Improving the sales of motor vehicles and other big-ticket items is a vital part of Beijing's strategy to promote stronger domestic consumption and lower dependence on exports.

- AP

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henry3280

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CJS-POWER

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