Tuesday, January 17, 2012

Higher prices, more controls slow auto sales in China

Higher prices, more controls slow auto sales in China

. China saw the slowest growth in the country's auto market in over a decade last year, according to the Associated Press. Sales rose by just 2.5 percent in 2011, thanks in part to more expensive vehicles and tighter buying controls. All told, consumers brought home 18.5 million vehicles last year, compared to 18 million in 2010. Chinese buyers endured the expiration of various tax breaks and buying subsidies, changes that saw the bottom line on most vehicles increase substantially. In addition, the Chinese government installed new restrictions on car buying in Beijing, further crimping sales growth.

Autoblog, Higher prices, more controls slow auto sales in China