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BIZCHINA> Top Biz News
Domestic car sales up 12.4% month-on-month in Feb
(Xinhua)
Updated: 2009-03-10 17:16

Sales of domestically made cars rose 12.4 percent month-on-month and 24.7 percent year-on-year to 827,600 units in February, the China Association of Automobile Manufacturers (CAAM) said Tuesday.

Related readings:
Domestic car sales up 12.4% month-on-month in Feb Premier: China to boost second-hand auto market
Domestic car sales up 12.4% month-on-month in Feb China aims to cut auto groups to 10 from 14
Domestic car sales up 12.4% month-on-month in Feb Auto market optimistic after Jan sales
Domestic car sales up 12.4% month-on-month in Feb China automobile sales zoom past US

The association said sales were buoyed by government stimulus policies. On Jan 14, China announced a plan to halve the purchase tax on passenger cars with engine displacements of less than 1.6 liters to 5 percent, effective January 20.

"Passenger autos with engines under 1.6 liters accounted for 70 percent of the passenger vehicle market, so the bounce of small-engine cars played a critical role in the revival," Zhu Yiping, CAAM assistant secretary general, told Xinhua.

Domestic car production was 807,900 units, up about 23 percent from both a month and a year earlier.


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