Auto Sales Slam in China
2009-02-16 Source：english.chinabuses.com
It's been several months of bad sales in China's auto market despite the occasional seasonal boost, but the sale is still poor in this year.
At the Auto Trade Market in Beijing, there are even more sales-people than shoppers. Customers are not buying because they think auto prices in China will get even cheaper if they wait. Industry experts are blaming other factors such as months of declines in the equities markets. Du Fangci, Assistant Secretary-General of China Association of Automobile Manufacturers said "The sluggish stock market is putting a big damper on auto sales."
Dealers say the only way to boost sales is to cut prices. But some auto dealers say they are not likely to offer any further discounts for the year.
Experts forecast that the competition in the fourth quarter will be tougher, especially around the end of the year when there will be more promotions. That's because dealers will be under pressure to achieve their sales targets. With the thought of more promotions ahead, it's no surprise that customers are just happy to sit tight and wait.
Views:0Editor：Frederick
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