Tuesday, Nov 24, 2009
Oooh next gordon will be doing the same with houses
Marketwatch: China's booming car sales, falling gas usage stump analysts
One such theory goes that Beijing and its state-owned enterprises are using stimulus funds to buy up new vehicles to subsidize local car makers, with the vehicles then hidden away or turned back into scrap metal.
Standard Chartered stepped into the debate with a recent research note entitled "Mysterious Gas," focusing on what is driving the nation's growing car ownership, which is on track to grow by nearly 25% this year.
"Car sales in China are booming [in the third quarter], but gasoline sales seem to be stuck in the slow lane," wrote Standard Chartered analysts headed by Stephen Green in Shanghai.
Posted by mark @ 12:28 PM (512 views) Add Comment
2 Comments
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1. drewster said...
The number of vehicle miles driven in the US is up year-on-year. That suggests a recovery is happening, although I expect it's mostly caused by stimulus spending. The graph below shows just how serious the recession was (or still is).
2. drewster said...
Source for the above graph: Department of Transportation: Traffic Volume Trends
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