BEIJING - China's
domestic auto market is recovering from a
downturn. In November, 393,600 passenger vehicles
were sold, a remarkable surge of 23% over October,
according to statistics from the China Automotive
Industry Association (CAIA).
The CAIA said
the booming sales in November have pushed the
11-month total to 3.5 million units, a 20%
increase over the same period of last year. Many
China-based auto companies have had a hard time
this year due to overstocking and difficulties in
collecting money from debit
customers. The profits of China's car industry saw
a 52.9% drop in the first three quarters this
year, 13.5 percentage points lower than the first
half, according to the National Bureau of
Statistics (NBS).
The CAIA said the market
is heading toward hot sales as the end of year
approaches. China sold 285,700 sedan cars in
November, up 20.4% from October, and the sales of
sports utility vehicles (SUV) also increased 1.14%
to 16,400 units. Meanwhile, the sales of
multipurpose passenger vehicles (MPV) stood at
13,700 units, dropping 1.16%.
According to
the CAIA, the top five sedan enterprises in terms
of sales in November are FAW-Volkswagen (31,700
units), Shanghai GM (30,300
units), Shanghai Volkswagen (30,100 units), Beijing Hyundai
(19,200 units) and Faw-Toyota (18,400 units). The
five enterprises reported a total sale of 129,700
units in the month, accounting for 45.4% of the
total sedan sales of the country.
