Light-vehicle sales projected to rise 14% this year
Passenger vehicle sales in China are expected to grow nearly 14 percent to 16.2 million units this year, predicts LMC Automotive, an automotive forecasting firm.
Sales of light commercial trucks are expected to rise 3 percent to 5.1 million units, as China's commercial vehicle market continues to lag behind retail sales.
For the year, light-vehicle sales -- including passenger vehicles and light commercial trucks -- are expected to rise 11 percent to 21.3 million units.
In the first nine months, passenger vehicle sales totaled 12.0 million units, up 15 percent year-on-year. In that same period, sales of light commercial vehicles rose only 4 percent to 3.8 million units.
In his monthly report, LMC analyst John Zeng noted that the central government is scaling down its subsidies for fuel-efficient cars.
On the other hand, dealership inventories declined four months in a row through August, though they might have risen slightly in September.
"China's light-vehicle market has been moving in a smooth upward trend this year," Zeng wrote. "We believe that China's light vehicle market is on track to achieving its potential growth, amid a relatively neutral environment."
The China Association of Automobile Manufacturers has not yet released industry sales results for the month of October.
For the year, light-vehicle sales -- including passenger vehicles and light commercial trucks -- are expected to rise 11 percent to 21.3 million units.
In the first nine months, passenger vehicle sales totaled 12.0 million units, up 15 percent year-on-year. In that same period, sales of light commercial vehicles rose only 4 percent to 3.8 million units.
In his monthly report, LMC analyst John Zeng noted that the central government is scaling down its subsidies for fuel-efficient cars.
On the other hand, dealership inventories declined four months in a row through August, though they might have risen slightly in September.
"China's light-vehicle market has been moving in a smooth upward trend this year," Zeng wrote. "We believe that China's light vehicle market is on track to achieving its potential growth, amid a relatively neutral environment."
The China Association of Automobile Manufacturers has not yet released industry sales results for the month of October.
