Chinese Passenger Car Market Surged in February

The Chinese passenger car market grew by 55.3 percent in February (compared to the sales volume registered in the same month of 2009), managing a total of 942,900 units, as the China Association of Automobile Manufacturers reports via Gasgoo.

The growth is hefty but represents a slowdown as compared to the 115.5 percent increased registered by the Chinese automotive market in January 2010. This is due to the fact that buyers stood away from showrooms during the 7 days of the Lunar New Year Holiday, that fell on February this year - last year it fell on January.

The overall Chinese auto market (including commercial vehicles) expanded by 46 percent last month, as a total of 1.21 million vehicles were sold. In January, the overall automotive sales more than doubled as compared to the same month of 2009, reaching a figure of 1.6 million units.

Last year, passenger car sales in China saw a 52.9 percent increase, with a total number of 10.3 million vehicles sold throughout the 12-month period. This enabled China to become the greatest automotive market in the world, surpassing the U.S. for the first time in history. One of the factors that enabled the sales to reach such a high level was the government subsidies program, that featured tax cuts and trade-in subsidies for the purchase of fuel-efficient cars.

In January 2010, the Chinese authorities introduced a fresh automotive stimulus program, that offers car buyers the possibility to couple the new scrappage scheme with a purchasing tax cut. The latter applies to vehicles which are powered by a 1.6 liter or smaller engine.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Andrei Tutu
Andrei Tutu profile photo

In his quest to bring you the most impressive automotive creations, Andrei relies on learning as a superpower. There's quite a bit of room in the garage that is this aficionado's heart, so factory-condition classics and widebody contraptions with turbos poking through the hood can peacefully coexist.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories