China: Car sales swell 72% on tax cuts
November 10, 2009
Powered by tax cuts and stimulus spending, China's car sales last month soared 72 percent from a year earlier, outpacing US sales for another month, the China Association of Auto Manufacturers reported yesterday. Vehicle makers sold a total of 1.2 million cars and trucks, the government-sanctioned group announced. That was down from September's 1.3 million, but well ahead of the 838 000 vehicles sold in the US in October. China's sales this year rose to 10.9 million cars, compared with 8.6 million in the US, according to Autodata. Global car makers are looking to China's fast-growing market to drive sales amid slack demand elsewhere. - Sapa-AP
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