Chinese still buying tons of SUVs

Posted By Alex Ely Wednesday, June 18, 2008 - 3:01 PM Share


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It's easy to assume that with skyrocketing gas prices, sport-utility vehicles are being shown the door. American SUV sales are down and dealerships are stuffed with gas-guzzlers that car companies can't seem to get rid of. Yesterday, The New York Times published an editorial that doubled as the SUV's obituary.

Not so fast, cowboy. The Financial Times reports that SUV sales are soaring in China:

Although demand for SUVs is slumping in most parts of the world, it remains strong in China. Sales rose by 40 per cent in the first four months of the year – more than double the growth rate for the passenger car market as a whole. Car imports have also nearly doubled. Many of these are large luxury cars."

EXPLORE:EAST ASIA, BUSINESS, CHINA
 

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