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December 8, 2009

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Home » Business » Auto

China auto sales accelerate 39%

CHINA'S auto sales accelerated 39 percent annually to exceed 12 million units in the first 11 months this year, the China Association of Automobile Manufacturers said yesterday.

The auto sales stood at 8.63 million units last year. China's auto sales have continued to expand more than 30 percent since February following government stimulus measures such as halving the purchase tax on small engine vehicles and subsidies for rural purchases.

As the central government has yet to announce whether to continue with the incentives, car buyers rushed to book their orders by the end of the year. At a three-day central economic work conference which ended in Beijing yesterday, China's top leaders pledged to maintain the relatively loose monetary stance and proactive fiscal policy next year to consolidate economic growth.

The CAAM forecast that vehicle sales and output would both exceed 13 million for 2009, driving China to overtake the United States as the biggest auto market in the world.

According to Xinhua news agency, citing CAAM's preliminary statistics, sales reached more than 1.35 million units in November nationwide, nearly double from a year earlier. The detailed figures will be released today.

Shanghai Automotive Industry Corp, the country's largest auto maker, sold about 2.44 million units in the first 11 months this year, a jump of 54 percent year on year, while its joint venture with General Motors Corp, Shanghai GM, sold 627,495 units, up 50.5 percent.

Japan's Mazda Motor Corp said its first 11 months sales hit 153,827 units.


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