- The Lobby
- Extra Times
Auto sales up 19.5 percent in Jan-Feb
China’s auto sales accelerated in the first two months of this year, rising 19.5 percent over the same period of 2012 in a possible positive sign for an economic recovery.
Automakers sold 2.8 million cars in January and February, the China Association of Automobile Manufacturers reported yesterday. Total sales, including trucks and buses, rose 14.7 percent to 3.4 million vehicles. That growth was an improvement over 2012’s full-year rate of 7.1 percent for cars and 4.3 percent for vehicles overall.
“We expect cyclical recovery in the Chinese economy to continue in 2013,” said JP Morgan economist Haibin Zhu in a report. “The gradual improvement in the macro environment would likely support some moderate growth in auto sales during the year.”
Global automakers are looking to China, the biggest market by number of vehicles sold, to drive revenues amid weakness elsewhere. Sales that grew by double digits in early 2012 decelerated due to an economic slump and ownership curbs imposed by some cities to control traffic and smog.
The communist government is promoting auto manufacturing and ownership but has tried to fine-tune policies to encourage sales of smaller, more fuel-efficient vehicles. A government forecast in January said total vehicle sales should rise to 20.8 million this year, up from 19.3 million last year. AP
Responsible Right of Expression — In the interest of freedom of expression, coupled with a true sense of responsibility to encourage community dialogue, the Macau Daily Times offers its readers the opportunity to express their opinions on new-related matters through this website. All opinions are welcome. However, we reserve the right to remove comments that are deemed to be obscene, or are merely insults written under the cloak of anonymity. MDT
- Docomomo requests classification of Portuguese School building
- POLICY ADDRESS – Social Affairs and Culture: Gov’t to build over 40 care homes
- Judicial Aid Commission: nearly 30 pct of cases are divorce applications
- Macau well positioned in int’l student assessment
- GLOBAL COMMUNITY GATHERING: “Stop defining what it is to be a Macanese”
- MSAR heightens alert after first HK bird flu case
- Macau has limitations in developing small ensembles
- Zheng Xinli says region to benefit from China’s reform
- Climate change to bring more and stronger typhoons
- FM to study the publishing of beneficiaries’ accounts
- Stable bus service supply is priority, gov’t officials say
- Raymond Tam trial starts tomorrow
- Diana do Mar wins Orient Foundation journalism award
- UM signs agreement with Christian Higher Education federation
- Gov’t to hire around 400 health professionals next year