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People's Daily Online>>China Business

Auto industry’s growth in 2011 slowest in 13 yrs

(People's Daily)

08:22, January 17, 2012

Edited and translated by People's Daily Online

Auto production and sales in China dropped by 31.6 percent and 29.9 percent from 2010, making the growth rate of the year hit the lowest point in the past 13 years, according to the latest data issued by China Association of Automobile Manufacturers on Jan. 12.

China’s auto production and sales volume stood at 18.4 million units and over 18.5 million units in 2011, up 0.84 percent and 2.45 percent year on year respectively.

Macro-policy is the main cause of the slowdown

The substantial drop of growth in China’s auto production and sales in 2011 is mainly influenced by four factors, including national macro-policy, the withdrawal of encouragement policies, the relatively high cardinal number of last year, and the purchase restrictions in cities of Beijing etc, said Dong Yang, executive vice president and secretary general of the association.

He said, of the four factors, the national macro-policy and the withdrawal of encouragement policies are the main factors affecting auto production and sales growth of 2011.

Export and new energy vehicles develop fast

Although the growth of domestic market is weak, the export of domestic cars has created new highs with rapid growth for two years in a row. According to the association, China exported 814,300 units in 2011, 269,400 units more than 2010, setting a new high in history. Export has contributed 60.8 percent to the auto sales growth.

Meanwhile, the production and sales of China-made new energy vehicle also realized a relatively fast growth in 2011. China produced 8,368 units of new energy vehicles in 2011. The association estimates that, with the release of 2012 new energy vehicle planning, the production and sales of China’s new energy vehicle will be greatly increased in 2012.

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