Automotive industry micro-cargo, heavy truck and light truck industry first
In January and February 2009, the overall automotive market remained sluggish in terms of demand, but certain segments still showed promising signs. According to data from the China Association of Automobile Manufacturers, a total of 1.563 million vehicles were sold during this period, marking a slight 2.7% increase compared to the same period in 2008. This modest growth indicated that the market had not yet fully rebounded. Passenger car sales stood at 1.218 million units, up 5.8% year-on-year, while commercial vehicle sales fell by 7.2% to 345,000 units.
Looking at specific sub-sectors, mini-vans within the passenger car segment and small commercial vehicles experienced significant growth, with sales increasing by more than 30%. This surge was largely driven by government incentives such as the "car-to-rural areas" policy and tax relief for small-displacement vehicles, which encouraged consumer purchases.
Additionally, production remained below sales for three consecutive months, leading to a sharp decline in sedan inventories. By February 2009, sedan stock had dropped to 21,000 units, the lowest level since February 2006 and the lowest in 37 consecutive months. As a result, passenger car manufacturers faced reduced pressure to "push sales" compared to 2008, and it was expected that car prices would see some support as inventory levels normalized.
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