Chinese bought 46 percent more cars this February than in February 2009. This according to official data by the China Association of Auto Manufactures (CAAM), as reported by China’s state news agency Xinhua.
The avid TTAC reader is not surprised. A week ago, we predicted numbers along these lines, simply by looking at GM China’s February sales report. Amongst observers of the Chinese market, GM sales (all of them, including Wuling) have turned into a reliable leading indicator. A dubious honor: GM China usually is only a few percent ahead of the market, which doesn’t translate into a rapid gain of market share. This month is not much different: GM China’s February sales rose 51 percent from a year earlier, only 5 percent ahead of the market.
Aficionados of the Chinese bubble theory are now on their feet, shouting “I told you so!” Sales in January had shot up by 115.5 percent. In February, the growth was less than half. Obviously, the bubble must be bursting. No so fast. (Read More…)












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