BEIJING – China’s automobile sales are expected to rise 8 percent year-on-year to a total of 20 million units in 2012, according to a market analysis and prediction report released by China Association of Automobile Manufacturers (CAAM) on July 26.
The report said passenger vehicle sales will reach 16.09 million units in 2012, up 11.1 percent on a yearly basis. Passenger cars and SUVs will sell about 11.18 and 2.07 million units with an increase of 10.05 and 30 percent, while sales of MPVs and microvans are also expected to see respective growth of 13 and 1 percent to 560,000 and 2.28 million units.
Commercial vehicle sales on the other hand will drop 3 percent to 3.91 million units in 2012, CAAM predicted. Bus sales will keep high speed increase of 14 percent by selling 550,000 units, while trucks are expected to see negative growth.
In addition, China will import and export 1.2 and 1.05 million vehicles, up 15 and 24 percent.
CAAM deputy secretary Shi Jianhua said the predictions were made based on the macro economy, improvement of rural spending power, local governments’ auto encouragement and restriction policies, as well as the influences of energy sources, transportation and the environment.
China produced and sold a total of 9.53 and 9.6 million vehicles in the first half of this year, up 4.08 and 2.93 percent, respectively, according to CAAM’s latest data.