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China's Economy: Are Auto Sales an Indicator?

Filed in archive News on September 10, 2008

A post in Seeking Alpha pointed out today the China's auto sales are down in August - for the first time in three years.

Is this the start of a post-Olympic trend? Inflation in China is at a 12 year high. The stock market is in a slump.

For the year, auto sales are still up about 14%.

"The August decline is mainly because of one-off factor of the Olympics that deterred consumers' attention,'' said Yale Zhang, director at CSM Asia in Shanghai. "Car sales growth may recover as soon as September as automakers start to add new models and offer incentives again.''

As Seeking Alpha points out, one statistic doesn't make a trend. I guess we'll see...

China
© Marc van der Chijs




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