Mainland Sales Boost To Trade

In 2005, new registrations, excluding government vehicles, reached 34,028 units. This represented a 2% decline in the new vehicle market, which was far lower than our expectations for the market in 2005 and the remainder of the forecast period. The fall in sales suggests a correction from the boom of 2004, which itself signalled a recovery from the SARS-stricken years of 2002 and 2003. In light of the 2005 figures, we have revised our sales forecasts downwards considerably, with growth not exceeding 1.5% for the next five

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