19 August 2019

Washing machine sales may have topped expectations, paper says

Washing machine sales growth in China last year may have surpassed initial expectations, with the appliance makers’ profitability also expected to have improved despite the government ending a subsidy program in the second half of the year, Shanghai Securities News reported Wednesday, citing industry insiders. Total sales of washing machines in 2013 are estimated at 32.74 million units, up 4.3 percent from a year earlier, it said. Industry insiders attributed the growth mainly to housing market expansion and replacement demand.

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