Beijing's Motor Sales up 19 Percent in First Half Year

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Last updated at: (Beijing Time) Wednesday, July 17, 2002

Beijing's Motor Sales up 19 Percent in First Half Year

A total of 133,000 cars were sold in China's capital Beijing in the first six months of the year, up19.2 percent on a year-on-year basis, the municipal bureau of statistics said.

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A total of 133,000 cars were sold in China's capital Beijing in the first six months of the year, up19.2 percent on a year-on-year basis, the municipal bureau of statistics said.

The sale of new cars soared 30 percent in the same period to 99,000.

The capital's top three motor markets sold 41,403 cars in the first half year, a rise of 26 percent.

Nearly 90 percent of cars sold at the three markets were bought by individuals, the bureau said.

Reasons

Drastic price cuts by manufacturers of small cars and a government tax rebate early this year has greatly encouraged people to buy, industry sources said.

A wider range of vehicles also contributed to the sales rise, said municipal commission of commerce sources.

In the first half of the year, nearly 10 brands of small cars were introduced to the market.

All sell for less than 100,000 yuan (about 12,000 US dollars), a widely recognized price threshold for small cars aimed at Chinese families.

Almost all the 10 best-selling cars fall into that price range, market sources say. Enditem

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