China’s auto sales surged past those in the United States in 2009 to make the Asian nation the world’s biggest car market, industry data showed Monday, but analysts warned sales would slow this year.The China Association of Automobile Manufacturers said more than 13.64 million units were sold last year, marking an increase of 46.15 percent from the 9.4 million units sold in 2008, Xinhua news agency reported.
Auto output for 2009 increased 48.3 percent to 13.79 million units, Xinhua said. Calls to CAAM to confirm the figures went unanswered.
In the US, auto sales fell 21.2 percent to 10.43 million vehicles in 2009, according to Autodata figures released last week.
Analysts welcomed the news, but warned that China car sales could hit the brakes this year.
“We are still optimistic about the outlook for this year but it will be quite difficult to achieve the growth rates of 2009,” John Zeng, a Shanghai-based analyst at IHS Global Insight, told AFP.
Will Myanmar’s coup help China influence ASEAN?
The Myanmar crisis is becoming increasingly tragic, with the military’s use of lethal force now killing over 60 protestors.
Rapid growth in China post-COVID makes it ripe for investment
Being “first in and first out” of COVID-19, China is the only country among the G20 that is thought by the Organisation for Economic Co-operation and Development (OECD) to have increased GDP in 2020.
In January 2020 as the world began to learn of COVID-19, many market observers predicted a challenging year for Asia. While there continue to be headwinds from the health and economic crisis, Asia, and China in particular, has demonstrated comparatively advantageous resilience.
Mainland China is in no position to take Taiwan by force
Unlike his predecessors, Chinese President Xi Jinping has demonstrated greater intensity in the desire for reunification.
The situation across the Taiwan Strait has seemed to be on the brink of crisis since 2018. Beijing has sent numerous sorties of military aircraft to conduct exercises near Taiwan and frequently crossed the median line of the Taiwan Strait.
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