No Evidence Shows Recovery in 2009
20 January 2009
From China Association of Automobile Manufacturers (CAAM) reveals that China's auto sales are unlikely to bounce back to double-digit levels this year despite the slew of government incentives. Auto sales in the country rose 6.7 percent from a year earlier in 2008, the lowest in 10 years.
China, which was considered the fastest growing automobile market in the world, had seen three consecutive years of sales growth in excess of 20 percent until last year. The consumer confidence is the most important factor weighing on China's auto market in 2009. Auto experts predict that automobile sales may increase only by 5 percent this year, but China still remains as the fastest growing automobile market in the world over the next decade.
Source : english.chinabuses.com
Views：3923
