China's auto sales hit new high in January
Sunday 20 February 2011
Auto sales in China, the world's largest car market, hit a monthly record of 1.89 million in January, data from an industry group showed Friday.
Sales last month rose 13.81 percent year on year, the China Association of Automobile Manufacturers (CAAM) said on its website.
Around 1.53 million passenger cars were sold in January, up 16.17 percent year on year, it said, while sales of commercial vehicles rose 4.89 percent to around 365,000.
Analysts attributed the bigger-than-expected growth to strong consumer spending and surging industrial demand for cars as China's economy continues to see blistering expansion.
"General consumer spending is expected to remain strong," Xia Ping, a Shanghai-based analyst with securities firm Core Pacific-Yamaichi, told AFP.
"Sales in large heavy vehicles increased rapidly in January partly due to infrastructure construction within China... and rising transportation demand amid the country's economic recovery."
Auto output in January went up 11.33 percent on year to 1.80 million units, the CAAM said.
China overtook the United States in 2009 to become the world's largest car market, which has made it hugely important for foreign manufacturers.
Auto sales in the country rose more than 32 percent last year to a record 18.06 million units as the economy quickly powered out of the financial crisis to grow by 10.3 percent in 2010, the fastest pace since 2007.
But growth in car sales is expected to ease this year as the government phases out policy incentives such as subsidies and introduces measures to restrict purchases.
US auto giant General Motors has said it expects its sales to grow at a slower pace of 10-15 percent in China this year.
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
The magicians using online collaboration to push boundaries
lifeIt takes year-long dedication to get Selfridges ready for 25 December. And they're already working on plans for 2015...
Jennifer Lawrence attacks mass media again over body image
Life & Style blogs
Exclusive: Young people ‘want UK to stay in Europe’: Four in 10 adults aged 18 to 24 are ‘firmly in favour’ of membership, poll shows
You can STILL be jailed for being a republican, government confirms, and it remains illegal to even 'imagine' overthrowing the Queen
Kiss and yell: Italian protester charged with sexual assault after kissing riot police officer
Fighting back: the woman giving a voice (and 49,999 others) to the victims of sexism - by giving an airing to their horror stories
PM denies two child limit for benefits is part of Tory welfare policy
Ethan Couch: Texas quadruple murderer – or a victim of ‘affluenza’?
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Ian Watkins: Paedophile Lostprophets singer sentenced to 35 years for child sex offences, as judge labels him a 'dangerous sexual predator'
- 4 Christmas comes early: Justin Bieber announces he's 'retiring from music'
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
£25000 - £32000 per annum: Harrington Starr: Junior Business Analyst - Banking...
£21999 - £27001 per annum + Benefits: Pro-Recruitment Group: Do you have exten...
£25000 - £35000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£42000 - £51000 per annum + Benefits: Pro-Recruitment Group: Are You Receiving...