On Tuesday, 10 March 2015, China Association of Automobile Manufacturers (CAAM) released data showing an 8.7% increase of passenger vehicles in the first two months of 2015 (January – February) vis-a-vis the same period in 2014. This translates to as much as 3.43 million passenger vehicles which include sedans, sport-utility vehicles and minivans sold in China during that period.
The overall automobile sales for both passenger and commercial vehicles in China grew 4.3% to a total of 3.91 million vehicles in January and February 2015.
During the first two months of 2015, Chinese domestic manufacturers which have 43% market share of China’s passenger vehicle, enjoyed strong growth in its car sales as follows :-
- Geely Automobile Holdings: 77%
- Great Wall Motor Co. : 22% (sedans and crossovers)
The positive growth of China’s automobile industry in the background of 7% economic growth forecast in China for 2015 will continue to support demand for natural rubber.
Source: IRCo
