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.
GM sells Thai factory to Chinese automaker GWM
After 20 years of operation in Thailand, General Motors will cease its activities, and resell its factory to the Chinese manufacturer Great Wall Motors
Governments most exposed to coronavirus have strong fiscal and external buffers
Moody’s baseline assumption is that the economic effects of the outbreak will continue for a number of weeks, after which they will tail off and normal economic activity will resume.
As measures to contain the coronavirus and fear of contagion hit consumption and production, downside risks to our GDP growth forecast for China (A1 stable) have increased., says Moody’s Research Announcement.(more…)
In China, an Unprecedented Economic Transformation
China has been undergoing an economic transformation unlike any other on the planet through an Industrial Revolution, urbanization, and an information age o experiencing all three simultaneously.
APRIL International Care opens up TeleHEALTH service to address Coronavirus worries
The TeleHEALTH service means policyholders do not have to leave their home or workplace to “see” a doctor, with a...
Thailand rolls out New Investment Measures to Boost Economy
The new definition of qualified applicants now includes businesses that have not previously received BOI promotion privileges as long as...
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...