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China car sales suffer holiday plunge

02-10-2012 08:21 BJT

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January car sales in China took their biggest monthly plunge in three years. They declined nearly 25 percent from a year earlier, but before you become really concerned, it was attributed to reduced working hours during the lunar new year holidays, which slowed down a lot of sectors in January.

Industry insiders are divided on the market outlook for the full year, with forecast growth ranging from less than 5 percent to well over 10 percent.

Few though,are expecting to see the breakneck expansion seen in 2009 and 2010.

For foreign auto makers, the Chinese market was also disappointing in January, with major brands like Ford, GM, Nissan all seeing shrinking sales.

Local auto groups like SAIC and DONGFENG, which rely heavily on their foreign partners to dress up balance sheets, also suffered falling sales.

However, there was one winner. Japanese car maker Mazda, a small player in China, welcomed a higher sales during the same period.


Editor:Zhang Rui |Source: CNTV.CN

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