Gasgoo.com (Shanghai January 29) - Growth in the Chinese automobile market finally slowed down in 2011, with a year-on-year increase in sales of only 2.45 percent, the lowest figure the country has seen in 13 years. Ministry of Commerce statistics, as quoted by china.com.cn, reveal that 18.51 million vehicles were sold last year.

The cooling down in the market in 2011 is attributed to a variety of factors, including new national macroeconomic planning, phasing out of policies stimulating consumer spending and the introduction of other policies aimed at curbing automobile growth in Beijing and other cities.

Growth in the market for passenger vehicles was above the industry average, with nearly 14.47 million passenger vehicles sold last year, increasing 5.2 percent from 2010. The minivan and SUV segments performed strongly, growing 11.7 percent and 20.2 percent, respectively.

2011 saw a record number of vehicles exported. According to China Association of Automobile Manufacturers (CAAM) statistics, the country exported 814,300 vehicles last year, nearly 50 percent higher than in 2010. Meanwhile, statistics from the General Administration of Customs show that automobile imports grew 27.3 percent, exceeding one million units.

CAAM statistics show that the industry is continuing to grow, with the overall value index increasing 16.8 percent from 2010. SAIC led the list of top ten manufacturers in 2011, followed by Dongfeng, FAW, Changan, BAIC, GAC, Chery, Brilliance, Great Wall and JAC. These ten manufacturers were responsible for 16.09 million sales last year.