According to data published by the China Association of Automobile Manufacturers (CAAM), in January this year automobile sales in China increased by 13.8 percent year on year to 1.8944 million units, with this growth rate down significantly on the year-on-year increase of 124 percent recorded in January 2010. Also in January this year, passenger car output in China totaled 1.3981 million units, down 3.26 percent from the December 2010 figure, while commercial vehicle output was 399,800 units, down 4.68 percent month on month.
The CAAM indicated the above figures were influenced by central government policy aimed at restricting automobile purchases and the high base numbers last year, as well as by the replenishing of inventories before the Spring Festival holiday.
Zhu Yiping, assistant secretary of the CAAM, said that, although the central government had halted its policy which sought to encourage consumption, the trend of Chinese economic development was good and so the prospects for the automobile market were also bright.