Sedan sales seen up
(Shenzhen Daily/Agencies)
Updated: 2006-02-14 10:23

Domestic sedan sales are expected to continue to rise more than 20 percent this year, as car prices are expected to have bottomed out after a series of price cuts in the past two years, an industry group said.

Domestic carmakers sold 3.19 million sedans last year, up 26.5 percent from 2004, according to data from the National Passenger Car Information Exchange Association.

The local auto market stagnated mid-2004 after the government tightened credit as part of efforts to rein in the once-booming sector. That prompted carmakers to slash car prices as competition intensified.

The group said sales in January were robust.

Domestic sedan sales in January rose around 70 percent from the same month last year to more than 330,000 units, according to data compiled by the group.

General Motors Corp.'s Shanghai venture was the top seller in January with sales of 30,400 sedans, the data showed. No comparative figures were provided.

German carmaker Volkswagen AG's Shanghai venture sold 29,000 cars and FAW Volkswagen sold 24,570 cars in January.