Automobile market rebound at year-end may increase annual growth rate in China

Tendency of automobile market rebound is becoming obvious. Yesterday, reporters learned from CPCA that passenger car sales volume has a significant increase with previous months in October, and professionals may change their pessimistic predicts towards automobile market in November and December at the same time. Experts have an identical view that with the supporting policy of small displacement vehicle purchasing tax halving benefits, flourishing automobile market in Q4 may increase the annual sales growth rate.

CPCA data revealed that total wholesales volume for cars, SUVs and MPVs reached 1,879,000, increasing 14.9%, and wholesales volume for passenger car in a broad sense reached 1,933,000, increasing 13%.

Data also revealed that from 2005 to 2015, sales volume in November and December has an increasing tendency, which means the two months this year will have a higher sales volume than October.

For the annual growth rate of automobile industry, CAAM has lowered its predictions for several times. Reporters got news that CAAM cut prediction from 7% to 3% in July, and predicted sales volume may appear negative growth in September. However, with the recovery of market in September and two-digit increase in October, professionals have a new prediction of 5%.