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CHINA
China’s car sales look easy
Summertime and China’s car sales look easy - Japan Blues persist
Published: Thu 01 Aug 2013 18:55:10 GMT
 

Audi Q5 orange China road

China’s underlying economic growth may have seen the best years, with growth slowing in nine of the last 10 quarters, but car dealerships, packed to the rafters with latest design models of unprecedented variety, continue to attract hordes of willing buyers. 

A trend which, AID‘s exclusively compiled figures reveal, bodes poorly for most Japanese carmakers, but particularly well for the leading Volkswagen Group and Hyundai-Kia. 

Excluding all built-up imports, June’s 14.2 per cent jump in passenger car sales brings China’s half-time cumulative car sales total to nearly 7 million units - up 17.5 per cent - prompting widespread upward revisions of generally lower earlier demand forecasts for this year.

The economy, the world’s second biggest, may be slowing, but so far at least China’s increasingly affluent and status-conscious middle classes have shown precious little inclination to rein in their spending on gleaming new cars. 

Moreover, judged from June’s even hotter sales of high-price status symbols from the likes of Audi, BMW, Mercedes and Porsche for instance, China’s nouveau-riche appear keener than ever to flaunt their status by taking conspicuous consumption and ostentation to hitherto unreached new heights
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DATA AVAILABLE TO SUBSCRIBERS WITH THIS ARTICLE:

CHINA new CAR sales:
CHINA new car sales by manufacturer and marque JUN 2013 v JUN 2012
CHINA new car sales by manufacturer and marque 6-MTHS
2013 v 6-MTHS 2012

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