China car sales jump 48% on year

| July 9, 2009 | 0 Comments
”China

The China Association of Automobile Manufactures has announced strong car sales for the economy, helped by Government incentives such as subsidies to trade in older vehicles.

According to the Association, car sales surged 36.5% in June compared with the same month last year, to 1.14 million vehicles.

Sales reached 872,900 vehicles in June - the largest increase in more than three years.

Carmakers worldwide are looking to China to help drive revenues as they struggle with a slump in demand in North American and other markets.

General Motors recently reported that sales in China surged 38% in the first half compared with a year ago, while Ford reported first-half sales in China were up 14%.

The news continues to be positive for the Chinese economy after the latest official data shows that the economy expanded at an annual rate of 6.1% in the first three months of 2009.

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