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September 26, 2009

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Subsidies Help Auto Sales Soar

China's auto sales should soar to 12.6 million units this year, up 35 percent from 2008, boosted by subsidies, a government researcher said yesterday.

China's auto sales have surpassed those of the US market for all but two months this year, helped by cuts in sales tax and subsidies for more fuel-efficient vehicles.

In September, Chinese sales are likely to total 1.25 million units, said Xu Changming, senior economist for the State Council's State Information Center.

Auto makers are seeking an extension to the tax cuts and subsidies due to expire at the end of this year.


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