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Saturday, June 9, 2012

Long Term Energy Investors -- Chinese Buying Automobiles at Clip To Exceed US Domestic Sales

Car sales in China rose 22.6 percent in May from a year earlier, according to data released on Saturday, extending the double-digit gain made in the previous month, as new models premiered at April's Beijing autoshow started to hit the showrooms. In May a total of 1.28 million sedans, sport utility vehicles (SUVs), multi-purpose vehicles (MPVs) and minivans were sold in the country. Back-of-the-envelope calculations: 1.28 x 12 = 15.4 million annual rate. 

Compare this with US:
US Auto Sales is at a current level of 13.73M, down from 14.37M last month and up from 11.69M one year ago. This is a change of -4.49% from last month and 17.45% from one year ago.

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