So used has the MSM become to China’s red hot car growth, that Reuters headlines the October sales report “Chinese car sales dip in October, but still robust.” China’s passenger vehicle sales clocked-in a year-on-year growth of 79.6 percent in October. In September, the growth was 83.62 percent, which serves as the reason for Reuter’s slight concern.During the first 10 months of the year, Chinese passenger vehicle sales surged 52.4 percent over the same period last year to 8.08 million units, said Rao Da, secretary-general of the China Passenger Car Association, to China Daily. He’s less concerned than Reuters: “We are optimistic that the November figures would surpass that of October as sales normally peak toward the end of the year.” With the new data under their belt, the industry association expects “full-year automobile sales to touch 13.5 million with a year-on-year growth rate of 44 percent.” Stating the obvious, Rao … [Read more...] about China’s Car Sales Down in October—To 80 Percent Growth
China passenger car association
From early indications, we assumed that May car sales would be great in China. Yet, we admit being kept speechless by the news that China’s car sales rocketed up 55 percent in May. That’s the most since the beginning of this year, data from China Passenger Car Association shows. And it’s the biggest growth China has seen in a long time.According to Gasgoo, sales of passenger cars, multipurpose vehicles, sport utility vehicles and minivans (that’s as close to the “Light Vehicle” count they can get in China—pickups aren’t counted) rose to 812,178 units in May, up 54.7 percent from a year earlier. Vehicle sales in the first five months climbed 29.6 percent to 3.65 million units.China clearly escapes the carpocalypse at thundering speed. Even in its darkest period, 2008, Chinese auto makers edged out a 6.7 percent rise, after a 22 percent rise the year before. China is solidly back in double digits growth territory, and from all accounts, … [Read more...] about Oh May! China’s Car Sales Up 55 Percent
Nobody in possession of his or her faculties doubts that China will remain the world’s largest auto market for this year and years to come. In 2009, Chinese bought 13.6m vehicles, up 45 percent. In the U.S.A. 10.4m units changed hands in 2009, down 21.2 percent. This year, the U.S. A. is expected to recover, but not by much: J.D. Power forecasts 11.2m units sold in the U.S. for 2010. How many will be driven off dealers’ lots in China this year?Chen Hong, president of China’s largest automaker SAIC, expects the Chinese market to grow to 15.5m units in 2010, reflecting a very cautious growth rate of around 9 percent. He had to be cautious, the remarks were made at the annual shareholders’ meeting in Shanghai yesterday.Others are more bullish. While nobody expects a repeat of last year’s 45 percent growth, 25 percent are seen as possible by some. One of those is an “institute of China’s auto market index,” cited by Gasgoo. They project that … [Read more...] about China’s 2010 Car Sales: More Than 15 Million? More than 17 Million?
September, usually a good sales month in China, brought no change to the tepid growth of the formerly red-hot Chinese car market. Automobile output was 1.60 million, and remained “basically flat,” as the China Association of Automobile Manufacturers (CAAM) said. Auto sales are up by 5.52 percent compared to September last year.Again, the overall number was dragged down by commercial vehicles. Their sales are down 5.92 percent. Passenger vehicles are up 8.79 percent.For the first nine months, auto sales in China stand at 13.63 million units, up 3.62 percent compared to the same period in 2010. Production in the period grew 2.75 percent to 13.46 million units.Sales could be down in the following months. “The September sales were stimulated by people rushing to showrooms to buy vehicles” before the government tightened up its subsidy policy on Oct 1, Rao Da, secretary-general of the China Passenger Car Association, told China Daily. “The figure and … [Read more...] about China In September 2011: Yawn
Remember when Akio Toyoda, coming back from the U.S.A. went to Beijing in a hurry? China is an important growth market for Toyota. Toyota had been doing well in China, last year they sold 709,000 units, about the same as GM China if you don’t count the Wuling vans. Suddenly, Toyota is falling from grace in the Middle Kingdom. For the first time in years, Toyota dropped off the top 10 list of the best-selling cars in the Chinese market last month, reports Gasgoo, citing data released by China Passenger Car Association.Toyota China recently said its total sales in February rose 30 percent from a year earlier to 45,400 vehicles. However, that underperformed the market that had risen 46 percent in February.The reason? You guessed it. A survey by Chinese website sina.com shows that 73.6 percent of 258,000 online respondents said they would not buy Toyota or Honda branded cars after the recalls, with only 16.4 percent saying Japanese cars are still their favorite choices. In a market … [Read more...] about Toyota Off The Charts In China. Not In A Good Way
A week ago, we swam against the trend of China analysts who predicted a 30-40 percent rise in March new car sales in the Middle Kingdom. By using our patent-pending TTAC forecasting methodology, we projected China’s sales rising between 50 and 60 percent in March. The numbers are in. We were wrong.Totally wrong was China’s National Passenger Car Information Exchange Association. They had predicted a rise of 40 percent.The true number? 63 percent. Well, the patent-pending TTAC forecasting methodology (use GM’s China sales – 68 percent up in March – and subtract a few points) had indicated sales above 60 percent. But we chickened.March sales in China totaled 1.26 million passenger cars, up from 942,900 sold in February, according to data provided by the China Association of Automobile Manufacturers [via Reuters.] These are passenger vehicles, excluding commercial vehicles, which could add another 250,000 to 300,000 to the number. Figures of … [Read more...] about China’s New Car Sales, March 2010: We Were Wrong
It seems like the Chinese government is getting worried a bit about what Greenspan would have called „irrational exuberance“ in the Chinese auto market. If Greenspan would have worked for the Chinese. Would have been interesting. Anyway …A few days ago, Dong Yang, vice president of CAAM, warned that the industry should be careful about possible overproduction and be prudent when planning to expand production capacity. In the first quarter of 2010, Chinese bought a record 4.61m units, up 71.78 percent year on year. Rao Da, general secretary of the China Passenger Car Association, is confident “that China’s vehicle sales will surpass 17 million units this year, growing by about 25 percent.” But colleague Dong warns that auto markers should be prudent and not make forecasts based on the current growth rate.A few days later, the government made an attempt to curb the appetite for new cars by raising (government controlled) gasoline prices.Today, The … [Read more...] about China Applying Brakes To Auto Market
Now that Chinese car sales are a hot topic on CNBC, and now that even Jalopnik reports Chinese car sales, here a short primer on how it’s done. You may want to write that down. It’s tricky.The people who have the final word on Chinese automobile production and sales are not from the Ministry of Industry and Information Technology. The final word has the China Association of Automobile Manufacturers (CAAM). Never use the data of the China Passenger Car Association, they just lead you astray. I also recommend to distrust Bloomberg, they are prone to making mistakes – although this time, they were right. If your Chinese is a bit rusty, use sources such as Shanghai Daily to double-check. No problem. Love to help. Now, for the numbers:The CAAM reported yesterday that August production of automobiles in China rose 8.72 percent year-on-year, while sales advanced a tepid 4.15 percent. For the first eight months of the year, production is up 3.04 percent, sales are up … [Read more...] about China’s August 2011 Sales: So-So
New car sales in China imploded in January. This will be the message when the official data by the CAAM are announced. Which should happen any minute.The signs are ominous: Yesterday, GM China, TTAC’s in-house leading indicator, announced (in a way) that sales in January had been down by 8 percent. Then, China’s largest carmaker SAIC said that its January was down 8.5 percent. Today, the China Passenger Car Association told China Daily that the car market in China had nosedived16.5 percent from a year earlier to 1.17 million units in January. Late in the afternoon in Yokohama at Nissan’s quarterly earnings conference, Nissan’s Corporate Vice President, Joji Tagawa proudly pronounced that Nissan sales “declined only 16 percent” in China, while the Chinese car market as a whole registered “a negative 28 percent,” and isn’t that wonderful?Whoa!!!! What’s going on?Is the sky over China finally falling? It sure looks like it. … [Read more...] about China Implodes! Someone Call Glenn Beck!
TTAC’s patent-pending China sales oracle is back to old form again. A few days ago, GM China reported a May sales increase of 21.3 percent. Today, China’s Association of Automobile Manufacturers (CAAM) announced its official numbers, and sales are reported to be up 22.6 percent in May.We have to rely on data reported by Reuters on that (not that we would distrust anything from Reuters crack China reporter Fang Yan), and we cannot regale you with the usual minutiae. Why? CAAM’s monthly press release is long on words, but devoid of any hard numbers. I guess you had to be there. We will probably get more on Monday.Speaking of the press release, it does not sound happy, despite the big increase: “Commercial vehicle sales continued to decline; own brand sales continue to decline; operating pressure of the first five months of key enterprises has increased, including receivables, liquidity, financial expenses, interest expense and so on.” In other words, … [Read more...] about China In May 2012: Sales Up, But Dealers Are Grumpy