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Brakes applied to car market in China

Brakes applied to car market in China
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The brakes are being applied to the world’s biggest car market. That’s the conclusion in a report from consulting firm Bain which says a number of factors are testing China’s love affair with the car.

Clogged city streets, parking that is both scarce and expensive and easier ways to hail a cab are all making the Chinese think twice about buying a car.

Up to 30 percent of people who took part in the report said if traffic got any worse they would consider giving up their cars.

That’s in stark contrast to an acceleration in the market in Europe.

Data from LMC Automotive consulting firm showed car sales rose 10.7 percent in March as a regional recovery broadened to France.

Registrations last month increased to 1.56 million cars up from 1.41 million a year earlier across the region. In France the upturn led to a rise in registrations of 9.3 percent which outpaced Germany by 0.3 percent.