Audi, Volvo sales edge higher as economy slows
Automotive News China
Automotive News | 2018-12-7
Audi's and Volvo's China deliveries rose slightly in November amid a slowing Chinese economy.|
Audi's China sales climbed 2.8 percent year on year to 57,550 vehicles on demand for imports, according to FAW-Volkswagen, Volkswagen Group's joint venture with China FAW Group Corp. that sells locally produced and imported Audi vehicles.
Audi's deliveries of imported vehicles, benefiting from China's tariff cut on imports, surged 26 percent to 5,780 during the month. By contrast, sales of Audis built at FAW-VW edged up 0.7 percent to 51,770.
In July, the Chinese government slashed tariffs on imported vehicles to 15 percent from 25 percent though it raised the tariffs on U.S.-made vehicles to 40 percent to retaliate against the Trump administration's tariffs on Chinese goods.
Thanks to double-digit sales growth in the first half, Audi's China sales through November advanced 13 percent to 595,436 from the same period last year.
In November, Volvo's China deliveries inched up 1.7 percent year on year to 11,450 on demand for two locally built models, the XC60 midsize crossover and the S90 large sedan.
For the first 11 months, the Swedish brand's sales in China jumped 14 percent to 118,725.
China¡¯s economic growth slowed to 6.5 percent in the third quarter of 2018 from 6.8 percent in the first half.
Amid a slowing domestic economy, China's new light-vehicle sales declined for the fourth straight month in October. Industrywide sales for November have yet to be reported.
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