Executives at local and foreign carmakers in China predict the overall vehicle market will grow 5 to 10 percent this year, roughly in line with 2012, when demand was hit by a slowing economy and rising fuel costs.
Japanese carmakers will likely continue to struggle in 2013 after they saw their China sales plunge by about half in 2012 after anti-Japanese protests and boycotts of Japanese goods broke out in mid-September over a territorial dispute between the two governments.
The market grew 46 percent in 2009 and 32 percent in 2010, thanks mainly to government incentives that expired at the end of 2010. Growth fell to just 2.5 percent in 2011.
Adding to sluggish the performance of the Japanese manufacturers, further initiatives by local governments to restrict car sales to help ease the worsening traffic gridlock is likely to weigh on the overall market.
So far Beijing, Guangzhou, Shanghai and Guiyang in southwestern China have cut the number of license plates they issue. In Guangzhou, the measure, which was introduced in August, will cut annual vehicle sales by a third.
http://www.reuters.com/article/2013/01/04/us-china-autos-outlook-idUSBRE90306320130104
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