China Car Sales Jump 48% on Support, Most Since 2006

Discussion in 'Economics' started by ASusilovic, Jul 9, 2009.

  1. July 9 (Bloomberg) -- China’s passenger-vehicle sales rose 48 percent in June, the biggest jump since February 2006, as government stimulus spending spurred a revival in the world’s third-largest economy.

    Chinese motorists bought 872,900 cars, sport-utility vehicles and other passenger vehicles last month, the China Association of Automobile Manufacturers said in a statement today. Overall auto sales, including buses and trucks, rose 36 percent from a year earlier to 1.14 million.

    A 4 trillion yuan ($585 billion) economic package has helped China surpass the U.S. as the world’s largest auto market this year and boosted sales for companies from General Motors Corp. to Alcoa Inc. The country is “a positive force” that will help drive growth as the world emerges from the global recession, billionaire George Soros said yesterday.

    “China’s downward slide is clearly over,” said Wang Qingtao, an analyst at First Capital Securities Co. in Shenzhen. “There is also huge natural demand for vehicles, which will continue to drive the industry for years to come.”

    48 %, that´s a number US dealers can just dream of...
  2. moarla


    well , with a minus in front it seems to be well known in USA :)

    - 48 %
  3. Lately, I observed that I am interested more in China related news then US. The stimulus package there is working more efficient...:cool:
  4. AK100


    Maybe. Or maybe they're just better at spinning the good news and hiding the bad stuff like the crony bank loan problem.
  5. We're now reading the same headlines about China that Goebbels fabricated under the Nazi's "Economic Wunder" of the 30s :cool:
  6. Yep, but it´s a "good" read...:D :D :D
  7. Pure speculation. For all anybody knows, the headlines are totally accurate. I agree, anything coming out of China is skeptical, but you can't rule out the possibility that they are actually telling the truth...

    I hear the same Goebbels argument on here whenever any government releases any good news.
  8. Gasoline in China costs more than in US and average salary in China compared to US is like 1 to 10

    Yet their car sales jumped %48????

    Can someone connect the dots cuz I can not.
  9. moarla


    you boys and girls in the USA are 300.000.000, china has 1.300.000.000....

    So an average doestn tell you all :)
    lets say 10% in China are healthy man, that are 130.000.000, ad lets say 25% in USA are healthy, that are 75.000.000

    you understand what i mean?
  10. dealmaker


    All they are doing is bring demand forward due to stimulus, I rather doubt they can keep it up. Let's keep in mind, standard of living wise China still is a third world country.
    #10     Jul 9, 2009