China on Track to Surpass U.S. in Sales This Year
By Michelle Krebs October 13, 2009
China is on track to surpass the U.S. in vehicle sales this year. Automakers reported selling more than 1 million vehicles in September - a first - according to the China Association of Automobile Manufacturers.
China's total vehicle sales are expected to close the year at 12 million, as much as 2 million above what analysts project for the U.S.
For the first nine months, China's car sales rose 42 percent to 7.2 million vehicles; U.S. sales fell 27 percent to 7.8 million vehicles in the same period.
September sales of vehicles sold in China soared 84 percent to 1.015 million vehicles; add in buses and trucks and the figure rises to 1.33 million vehicles.
The government's cutting of vehicle taxes and offering of subsidies in rural areas earlier this year in response to the recession prompted the sales surge. Those incentives may be eliminated soon as they are no longer necessary to spur sales.
General Motors sales more than doubled in September to 181,148 vehicles. For the first nine months, GM sold 1.29 million vehicles in China, more than all of 2008. GM CEO Fritz Henderson told reporters in China Tuesday China would continue to grow at a very significant pace.
Changan Ford Sales Company reported its best-ever monthly sales performance for Ford brand vehicles in China, totaling 23,616 units in September, an increase of more than 107 percent over the same period last year. The record sales mark eighth consecutive months that Ford brand sales have increased at Changan Ford. Through the first nine months of 2009, Changan Ford has achieved total sales for Ford brand vehicles of 168,217 units, a nearly 37 percent increase over the same period last year.
BMW sold 62,394 BMW and Mini vehicles for a 32 percent rise. China is BMW's fourth largest market.
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