The Global Sales Of New Car Slow Down - Business

<p>It is reported that in the first half of this year, new of the world's major countries slowed down. The sales growth of China, India and other emerging countries has a marked decline. In the first half of this year, the new of China, Brazil, Russia, and India totaled 13.99 million units, an increase of 9%. The growth rate slowed down compared to the growth rate of 37% in the first half of 2010. </p>

<p>In the first half, the sales of China are 9.325 million vehicles, significantly more than the United States in the second place. China continues to lead the global new market, but the increase was only 3%, an obvious decrease compared to the growth rate of 48% in the first half of 2010. The main reason is raising oil prices and the abolition of purchase tax policy, affecting consumers??? purchases.</p>

<p>Analysts decreased the expected China's annual growth rate of new vehicle sales from 10% to 5%. The new of India in the first half are 1.692 million, an increase of 15%, decreased more than half than the 39% in the first half of 2010. The main reason is the Government of India raised interest rates, the interest rate of car loans are raised, consumers reduce the purchase of new vehicles. </p>

<p>On the other hand, the sales of new cars in Brazil are 1.737 million, an increase of 10%. Russian new are $ 123.5 million units, increasing 56%, a substantial increase over last year. Russia increased exports of resources and economic recovery, accelerated the implementation of the trade-in subsidy policy, increased consumer demand for new cars. The two organizations raised the expected growth rate of new . However, Russia plans to abolish subsidies. The growth of low-priced will fall. </p>

<p>The U.S. new in the first half of this year are 6.333 million units, increasing 13%. Affected by the high oil prices and the major earthquake in Japan, the sales in May and June decreased. According to the source, in the second half it will be gradually restored. However, due to high unemployment and the debt crisis in Europe, the economic outlook is uncertain. The of 18 major countries in European in the first half are 6.97 million, a decrease of 2%. Germany has a rapid economic development with a growth rate of 11%. Sweden and the Netherlands increased by 1 to 2 percent. Greece dropped by 40 percent. Portugal dropped by 20 percent. Spain dropped by nearly 30 percent. The southern European countries are affected by the financial crisis and have low consumption.
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