Throughout the beginning of 2011, the Chinese car market looked ready to take over the world, demand there slowed towards the end of the year, and is sales increase is now less than what was achieved by the US market, a first for the last 14 years according to Bloomberg.
Combined sales of cars, busses and trucks only rose 2.5 percent to 18.5 million vehicles in China in 2011, according to data released by the China Association of Automobile Manufacturers today. Forecasts for this year sit at 8 percent, so at last for now, China will continue being the biggest market.
“China’s auto sales growth won’t reach anywhere near the past couple of years as it scales back to a more sustainable pace,” said Jenny Gu, an analyst at industry researcher.
However, US demand for light vehicles climbed an impressive 10 percent in 2011 to 12,8 million vehicles. It’s expected that 2012 will see an annual rate of growth of 13.5 percent.
“China’s auto sales growth won’t reach anywhere near the past couple of years as it scales back to a more sustainable pace,” said Jenny Gu, an analyst at industry researcher.
However, US demand for light vehicles climbed an impressive 10 percent in 2011 to 12,8 million vehicles. It’s expected that 2012 will see an annual rate of growth of 13.5 percent.