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China's July Auto Sales Up 64 Percent

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(AP) China's auto sales surpassed the United States' again in July, jumping 64 percent over a year earlier to 1.1 million vehicles as sales tax cuts and government subsidies spurred demand, according to data reported Friday.

The figures are a boost to global automakers that are looking to China to drive revenues amid sluggish demand elsewhere.

Passenger car sales rose 70.5 percent from a year earlier to 832,600 units, the Xinhua News Agency said, citing the state-sanctioned China Association of Automobile Manufacturers.

China, with 1.3 billion people, has long been expected to overtake the United States as the biggest vehicle market. But the U.S. economic slump hastened that shift by depressing American sales while China surged ahead.

Customers in the United States bought 997,824 cars and light trucks in July, according to research firm Autodata Corp.

China's July sales raise its total for the first seven months of 2009 to 7.2 million vehicles, while U.S. passenger car sales totaled 5.8 million.

http://www.cbsnews.com/stories/2009/08/07/...in5223937.shtml

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(AP) China's auto sales surpassed the United States' again in July, jumping 64 percent over a year earlier to 1.1 million vehicles as sales tax cuts and government subsidies spurred demand, according to data reported Friday.

The figures are a boost to global automakers that are looking to China to drive revenues amid sluggish demand elsewhere.

Passenger car sales rose 70.5 percent from a year earlier to 832,600 units, the Xinhua News Agency said, citing the state-sanctioned China Association of Automobile Manufacturers.

China, with 1.3 billion people, has long been expected to overtake the United States as the biggest vehicle market. But the U.S. economic slump hastened that shift by depressing American sales while China surged ahead.

Customers in the United States bought 997,824 cars and light trucks in July, according to research firm Autodata Corp.

China's July sales raise its total for the first seven months of 2009 to 7.2 million vehicles, while U.S. passenger car sales totaled 5.8 million.

http://www.cbsnews.com/stories/2009/08/07/...in5223937.shtml

The thing I find amazing about this is that I think (going back) that UK car sales ran at a little over 1m per year... with china at an annualised 12m... just think how far they have to go... great if you are motor manufacturer with a decent foothold in china... not so good perhaps if you are an american company making and shipping the wrong product.... what what yearly sales will be in china in 5 years time... 20m, 30m ?

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So I shouldn't buy that old 4.4L V8 giving 25mpg? It's only 3k by the way, which is what I can comfortably afford right now despite that site the other day saying our household income is in the top 1% of the country.

I read something about petrol going to 2 quid a litre next year for some reason or other, I forget.

And those Chinese cars don't pass the safety standards of the west I believe, but I guess life's cheap over there.

china-death-bus.jpg

Mobile execution chamber anyone?

TFH

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6 of the top 7 chinese brands are joint ventures with VW, honda, toyota etc etc. so i reckon they pass the safety test. why does everyone assume if it's in china it;'s crap - bit complacent when our economy has been run off unsustainable debt rather than hard work?

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Guest BoomBoomCrash
So I shouldn't buy that old 4.4L V8 giving 25mpg? It's only 3k by the way, which is what I can comfortably afford right now despite that site the other day saying our household income is in the top 1% of the country.

I read something about petrol going to 2 quid a litre next year for some reason or other, I forget.

And those Chinese cars don't pass the safety standards of the west I believe, but I guess life's cheap over there.

china-death-bus.jpg

Mobile execution chamber anyone?

TFH

We could do with a few of those to get rid of some of our bankstas

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(AP) China's auto sales surpassed the United States' again in July, jumping 64 percent over a year earlier to 1.1 million vehicles as sales tax cuts and government subsidies spurred demand, according to data reported Friday.

The figures are a boost to global automakers that are looking to China to drive revenues amid sluggish demand elsewhere.

Passenger car sales rose 70.5 percent from a year earlier to 832,600 units, the Xinhua News Agency said, citing the state-sanctioned China Association of Automobile Manufacturers.

China, with 1.3 billion people, has long been expected to overtake the United States as the biggest vehicle market. But the U.S. economic slump hastened that shift by depressing American sales while China surged ahead.

Customers in the United States bought 997,824 cars and light trucks in July, according to research firm Autodata Corp.

China's July sales raise its total for the first seven months of 2009 to 7.2 million vehicles, while U.S. passenger car sales totaled 5.8 million.

http://www.cbsnews.com/stories/2009/08/07/...in5223937.shtml

lol sounds really sustainable. Nothing to do with huge amounts of lose credit (dwarfing UK and US) being pumped to the subprime chinese market or anything.

I will be surprised if a huge amount of loans for these cars don't default. If all the chinese with cars now didn't need them before if money becomes tight they are not going to want to hold on to them.

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as far as i know, chinese prefer paying with cash , even when buying a home B)

you must know some rich people. my chinese friends are on 30 year mortgages

the ccp in its infinite wisdom has decided to loosen credit. the money has to go somewhere. the chinese are repeating the mistakes of the west (pumping money in to prop up an unsustainable economic model) and will also pay for it in spades in the long term.

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So I shouldn't buy that old 4.4L V8 giving 25mpg? It's only 3k by the way, which is what I can comfortably afford right now despite that site the other day saying our household income is in the top 1% of the country.

I read something about petrol going to 2 quid a litre next year for some reason or other, I forget.

Remember that pretty much ass Chinese car sales represent net additions to the car fleet there.

Wheras in the US and UK, they more or less cancel out scrappage.

So this means more and more oil demand..

As far as the V8 goes, it depends how much you drive it...

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