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China Carmakers Want Limits Eased on Vehicle Licenses
China's largest cities should relax their limits on license plates to help reverse three months of declining year-on-year car sales, the China Assn. of Automobile Manufacturers suggests.
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China's largest cities should relax their limits on license plates to help reverse three months of declining year-on-year car sales, the China Assn. of Automobile Manufacturers suggests.
Seven of China's largest cities have been rationing the number of license plates they issue per year in an effort to reduce air pollution and traffic congestion. CAAM estimates that raising those limits could boost car sales by about 2% per year, thus protecting auto industry jobs.
CAAM previously predicted that car sales in China would rise about 3% this year. But the group also warned on Thursday that without stimulus, full-year wholesale car deliveries could shrink instead for the first time in decades.
Carmakers had expected increased demand in smaller cities would more than offset stalled sales in such megacities as Beijing and Shanghai. That hasn't happened.
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