Vehicle sales in China are up by nearly a quarter this October
It seems that China is having rather a good time lately.
One thing that doesn’t lie is how car sales are performing; they are always a good measure of the economy in general and also of consumer confidence.
This October, vehicle sales went up by 24% to over 1.61 million. Interestingly, the reason for this was not just a matter of a recovering economy; it was also because China seems to be ready to welcome Japanese automotive manufacturers back into the fold.
The Chinese boycotted Japanese cars after last year’s island dispute; it does seem that consumers are ready to bury the hatchet if the latest figures are anything to go by. We aren’t talking a small rise; we are talking 81% for Toyota and a triple-sales increase for Honda.
These figures are higher than many critics predicted and Chinas economy is getting stronger and stronger as we head into the final quarter of 2013. This is obviously something that is good news for the world in general – is global financial recovery on its way?
And on another note, should General Motors be worried? At present, they are the market leader for foreign car sales over in China and whilst they, too, boasted a 12% increase in sales this October, it is certainly not the same sort of rise that their Japanese rivals enjoyed.
As Toyota are leading the way globally, at the moment, we aren’t sure that General Motors will really want to lose their China Crown just yet…
Written by @MotorMistress
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