China Commercial Car Sales Down 26% In Nov

Shanghai, December 18, 2008: (Gasgoo.com) China's commercial vehicle sales in November fell 25.96% from a year earlier, reflecting the fifth monthly fall in commercial vehicle sales this year and the largest monthly decline up to now, the China Association of Automobile Manufacturers said.

China Business News quoted an analyst from Oliver Wyman as saying that the economic downturn and improved emission standards had led to commercial vehicle sales slump. It¡¯s hard for the commercial vehicle market to recover in 2009, as the market feels limited effects by China¡¯s 4 trillion yuan stimulus package, which is expected to have results three years later, Zeng Weimin, president of Oliver Wyman¡¯s Greater China operation.

China's commercial vehicle sector has posted 15% sales increase for eight years. In the first half of 2008, the commercial vehicle saw output and sales increase by 18.48% and 21.98% respectively.

The improved emission standards effective from July 1 stimulated commercial vehicle output and sales to grow in the first half of this year. The economy slowdown spilled over to the commercial vehicle market in the second half, leading to the fall of commercial vehicle sales. Analysts said commercial vehicle sales would continue to drop until the economy recovers in 2009.

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