According to the data released by China Association of Automobile Manufacturers (CAAM), since the start of this year, car sales volume in China rolled over compared with that in the same period of last year, and also showed signs of a reverse growth. Thus CAAM predicted that car sales growth in China is likely to step into the negative territory towards the end of the year.
In January-August of 2015, car production reached 15.1824 million units, a 0.24% decrease year on year. Car sales reached 15.0172 million units, rolling over from the same period of last year.
Chen Shihua, director of industrial information department of CAAM, believed current situation was very rare, and he also pointed to the fact that since May, production and sales volume has been lower year on year for four consecutive months, and the total production and sales volume in the first eight months of 2015 was also lower compared with that of last year. Although the overall growth rate up to now was zero, production and sales volume actually decreased by more than 100 units compared with last year.
Early this year, when forecasting for the whole year, CAAM predicted that car production and sales growth rate should be at 7%. By June, given a swift downturn of the situation, CAAM cut the predicted growth rate to 3%. Now that signs of negative growth have already been shown, it is wildly doubted whether car production and sales in China in 2015 will end up with a negative growth.
Shi Jianhua, Vice Secretary General of CAAM, said that the development of car industry is closely linked with macro-economy, stock market and consumers’ consumption capability, and if these things do not change, a negative growth is likely to be seen. He also mentioned that to boost the car market, CAAM made suggestions to related institutions that constraints on car purchase in some cities should be loosened as consumption capabilities in first-tier cities are strong, and that disposal of worn-out cars should be quickened, and so on.
