Latest News:  


Car sales crashing

(Global Times)

15:08, January 08, 2013

As slow growth in the world's largest car market continued for a second consecutive year in 2012, auto dealers in China are facing huge financial burdens, with many facing closure.

Several Honda dealers have shut down recently, and in October last year there was a high-profile case involving the owner of three Citroen dealerships in Suzhou, East China's Jiangsu Province, who fled to evade her creditors, Beijing-based China Times reported on December 29.

"There was enormous pressure on auto dealerships in 2012, and more than 50 percent of the dealers of imported brands made a loss for the whole year. That ratio is about 40 percent for dealers of domestic brands, and 35 percent for joint-venture brand dealers," Luo Lei, vice secretary-general of China Automobile Dealers Association (CADA), told China Times.

CADA's comprehensive dealers' inventory index fell to 1.33 points in November, the association said in a statement on its website on December 28. But from February to October last year, the index was always above the official 1.5-point alarm line.

An index of between 0.8 and 1.2 points indicates reasonable inventory levels, while higher than 1.5 points indicates excessive stockpiles and higher operating pressure and risk, according to CADA.

Diaoyu Islands impact

Most of the slow-selling brands in November were imported Japanese luxury cars, with Nissan's Infiniti recording the highest individual inventory index of 4.9 points, CADA said.

【1】 【2】 【3】 【4】

We recommend:

Mainland, Taiwan airlines sign co-op contract

Great changes in Zhengzhou railway station

Wanda Group ventures onto the global stage

Sports car makers look to mainland market

Top Ten Economic Events in 2012

'Gold road' laid with gold bars


Leave your comment0 comments

  1. Name


Selections for you

  1. APF soldiers in anti-terrorism training

  2. Armored regiment in drill on plateau

  3. Selected Xinhua int'l news pictures of the year 2012

  4. Busiest subway line in Beijing

  5. New Year Wishes from left-behind children

  6. Family firms look to world future

  7. Take a bite of delicious specials in China

  8. Simply Beautiful Photos: Palette

Most Popular


  1. Is there hope for Chinese football?
  2. Men to wives: Earn more, but still less than I do
  3. Foreign aid,NOT enough for Chinese soccer
  4. Reliance on land sales 'must be reformed'
  5. Heroism, a matter unrelated to wealth
  6. 'Chinese Fortune Grandpa' VS 'Santa Claus'
  7. China Voice: Blind eyes are deadlier than blazes
  8. Light amidst global gloom
  9. Where should China's badminton head for?
  10. Why ‘Chinese style road crossing’ occurs

What’s happening in China

Busiest line in Beijing: Subway line 10 has reached a daily transportation of 1 million passengers on average

  1. China to reform re-education through labor system
  2. Animal abuse at China zoo sparks criticism
  3. Four children drowned in Central China
  4. Standards for teachers stir fierce debate
  5. Health insurance to cover 95% of rural residents