China Car Sales Up Sharply
September 7, 2010 at 3:00 pm
More than one million passenger cars were sold in China in August, a sharp increase from a year earlier.
A private research group, the China Passenger Car Association, said Tuesday that August sales increased by 18 percent in the world’s biggest auto market. Government subsidies and price cuts by dealers helped fuel the increased sales compared to August 2009.
A government-affiliated group had earlier reported that August sales totaled 1.2 million for all types of vehicles, a 56 percent increase.
By comparison, industry research firm AutoData Corporation said nearly one million vehicles were sold in the U.S. in August, a 5 percent drop from the year before when the U.S. government’s Cash for Clunkers rebate program for buyers was in full force.
The China Association of Automobile Manufacturers says a record 10 million vehicles may be sold in China this year, an increase from the 8.7 million total last year.
Some information in this story was provided by AP and Bloomberg.
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