7.9China's auto sales surpass 1.14 mln units in June

China's auto sales surpass 1.14 mln units in June

 

http://autonews.gasgoo.com/auto-news/1011240/China-s-auto-sales-surpass-1-14
-mln-units-in-June.html

 

Shanghai, July 9 (Gasgoo.com) China sold more than 1.14 million vehicles in
June, up 36.48% year on year (y/y), exceeding the 1.1 million mark for the
fourth straight month, xinhuanet.com reported today, citing the latest
industry data.

 

The China Association of Automobile Manufacturers (CAAM) said both the auto
output and sales in China set a half-year record high in the first six
months. From January to June, China's auto sales came to 6.099 million
units, up 17.69% y/y, while 5.99 million vehicles were produced in the
period, up 15.22% y/y.

 

The increases are attributed to a series of government stimulus measures to
boost domestic consumption. China in January halved the purchase tax on
passenger cars to 5% for models with engine of less than 1.6 liters, a move
to shore up the domestic auto sales.

 

The CAAM said passenger vehicle sales from January to June rose 25.62% y/y
to 4.534 million units (with 872,900 units sold in June), while
commercial-vehicle sales fell 0.5% to 1.57 million. China overtook the U.S.
in the half-year auto sales by about 27%. 

 

The association is "cautiously optimistic" about the auto sales in the
second half of this year, predicting that China may sell more than 11
million vehicles in 2009, higher than its April forecast of 10.2 million
units.

 

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