Auto Market Future Mixed

Many automakers experienced sales declines in recent time, triggering great anxiety about China's auto market in the future. The soaring consumer price index (CPI) and slowing world economic growth bring too many uncertainties to China's auto market in the second half of this year.

 

Due to CPI growth, auto price has been a hot topic among consumers. A survey conducted by Sinotrust, a leading domestic auto research firm, 71.6 percent of consumers surveyed don't want to see auto price hikes, 13.6 percent say price hikes will occur, and the remaining 14.7 percent say they will 'wait and see.' But auto experts predicted China's auto market will continue to grow as Chinese economy's upward trend continues.

 

Latest figures from the price supervision center under the National Development and Reform Commission (NDRC) suggested Chinese domestically manufactured vehicle prices edged up 0.15 percent, but down 3.17 percent year on year.

 

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