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JAC sees the growth of the automobile market sales in China slow in 2017.
BEIJING China's Anhui Jianghuai Automobile JAC Group expects slower growth in vehicle sales in China this year as the world's biggest car market approaches the saturation of demand, its president, Jin, told Reuters on Monday.
China's auto market posted stronger growth than expected July 13 percent last year thanks to a tax cut on small cars vehicles The growth rate should decrease as the policy is canceled this year and eliminated in 2018.
Because China already has 28 million vehicles in annual sales and is extremely important, with a sharp rise is unlikely, said on the sidelines of the parliamentary session in China, to which he is a delegate The annual meeting began Sunday and ends on March 15.
global automakers General Motors GM N and Toyota Motor Corp. 7203 T reported lower sales during the first two months of 2017, while Nissan Motor Co 7201 T recorded growth in single digits Automakers last month have blamed the role of the policy of reducing tax return and the Chinese New year holiday year for poor sales.
In September, JAC has signed a preliminary agreement with Volkswagen AG to manufacture electric vehicles explore a new nL3N1BJ2A7 joint venture.
A JAC said that the talks between the two companies continues at a common rhythm agreed, but not yet at a stage quite successful, adding that the tie-up has not received final approval.
We continue to make great efforts, he said the talks, refusing to say when would be a final agreement.
The joint venture would be third in China foreign carmakers VW are required to form joint ventures for manufacturing in the country and are usually limited to two cars companies.
VW said it hopes to conclude the negotiations in the first half of this year and deliver its first car in 2018 with JAC nL4N1F93J7.
The government opened the tie-up is linked to being focused on electric battery and plug-in hybrid vehicles, said.
Compared Jake Spring; Editing by Muralikumar Anantharaman.
JAC sees the growth of the automobile market sales in China slow in 2017 Reuters, engine, sees slower, porcelain.