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Vehicle sales decelerate as government cuts subsidies (3)

(China Daily)

14:40, November 08, 2011

"Inventories will continue to increase in November, as we believe that this month's sales will also decrease from last year's number, and maybe even with a bigger negative growth rate."

Rao said that China should not halt support for energy-efficient vehicles but instead should "further encourage the use of smaller engine capacity vehicles".

Chen Qingtai, a senior researcher at the Development Research Center under the State Council, agreed with Rao.

"The government should frame policies to promote the wide usage of fuel-saving and smaller vehicles," said Chen.

According to Chen, in 2010, only 6 percent of new passenger vehicles had engine capacities of 1.0 liter or lower. In Japan, by contrast, the proportion had already reached 37 percent by 2008.

Moreover, the average fuel consumption of passenger vehicles produced in China in 2010 was 18.3 percent higher than the average figure in Europe in 2008.

"The shrinking market for small engine capacity vehicles also made China's domestic producers lose market share and profits," added Rao.

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