Chinese Auto Sales Accelerate in August
September 2, 2010 at 11:35 am
Demand for new cars is up in China, fueled in part by government subsidies for fuel-efficient vehicles.
The China Automotive Technology and Research Center said new-car sales jumped almost 56 percent in August, compared to the same time last year.
The top two U.S. carmakers also reported stronger sales in China.
General Motors said Thursday its (year-on-year) sales increased by 19 percent in August, while Ford Motor Company said sales rose 24 percent.
China surpassed the United States in car sales last year to become the world’s largest automobile market.
GM and Ford’s strong showing in China contrasts with their declining sales in the U.S.
GM saw U.S. sales drop 25 percent compared to last August, while Ford said its sales slid 11 percent. Both companies said those declines were due to a government rebate program that sharply increased car sales in August 2009.
Overall, Asian countries reported stronger car sales in August.
Year-on-year vehicle sales grew by 47 percent in Japan, while South Korea and India also reported growth. Some information in this story was provided by AP, AFP, Bloomberg and Reuters.
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