Pre-Chinese New Year vehicle production and sales increase dramatically.
China’s auto output surged 51.2% year-on-year to 1.96 million in January, while auto sales accelerated 46.4% to a record monthly high of 2.03 million units in the same period. Some analysts are attributing the exaggerated figures are statistical aberration caused by the five extra working days before Chinese New Year. Others suspect the boom in production was in anticipation of a national drive to improve fuel quality.
Despite a growing used vehicle market, new passenger vehicle sales hit 1.73 million in the first month of the year, according to the China Association of Automobile Manufacturers. Passenger car output also reached a heady 1.62 million units in the same period.
Among those profiting from the increase were Japanese carmakers Nissan and Honda. The Japanese marques saw vehicle sales rise 22% in January to 115,700 and 47,248 units, respectively. The sales growth is a positive sign after a territorial spat hampered sales last year.
US automakers also profited, with Ford's passenger vehicle sales surging 135% to 44,439 units. Meanwhile, General Motors also realised a respectable growth of 26% year-on-year, selling 300,000 vehicles.
Despite sceptics attributing the rise to a statistical anomaly, the nation’s carmakers remain optimistic. Rao Da, secretary general of the China Passenger Car Association, believes the growth is indicative of higher demand potential this year, coupled with a “rebound in the national economy”. Rao predicts sales in the first two months to grow by at least 25% year-on-year and expects China will easily reach 20 million units sold in 2013.