Don't miss

Replay


LATEST SHOWS

DEBATE

The Race to Save Lives in Nepal: World Ramps up Efforts to Provide Emergency Aid (part 2)

Read more

DEBATE

The Race to Save Lives in Nepal: World Ramps up Efforts to Provide Emergency Aid (part 1)

Read more

MEDIAWATCH

Nepal earthquake on social media

Read more

TALKING EUROPE

Louis Michel: 'Europe is not guilty' of Africa's failings

Read more

TALKING EUROPE

Italy's Europe minister: 'Bold measures' needed to dismantle human trafficking

Read more

ENCORE!

Music show: Blur, Martin Gore and Moriarty

Read more

FOCUS

France steps up cyber defence in wake of attacks

Read more

BUSINESS DAILY

End of an era as Volkswagen's Piech resigns

Read more

THE OBSERVERS

Police beat kids in Guinea, and militias dynamite homes in Iraq

Read more

Business

China auto sales jumped 32% in 2010

Text by News Wires

Latest update : 2011-01-10

Auto sales in China rocketed 32% in 2010, hitting 18.06 million units sold. The figure is a new record and comfortably secures China’s position as the world’s biggest auto-industry market.

AFP - Auto sales in China rose more than 32 percent in 2010 to 18.06 million units, an industry group said Monday -- a new record  for the world's largest car market.
             
Sales in December rose 17.9 percent from a year earlier to 1.67 million units, the China Association of Automobile Manufacturers (CAAM) said in a statement.
             
China overtook the United States in 2009 to become the world's largest car market and is a key market for foreign manufacturers. GM, Ford and Volkswagen all posted record sales in the country last year.
             
"The strong growth... was due to both policy incentives and frontloaded consumption as consumers were concerned about the withdrawal of policies," CAAM said.
             
Beijing introduced stimulus policies aimed at supporting the auto market during the global financial crisis. Consumers worried authorities would scrap these measures this year snapped up cars in 2010.
             
CAAM forecast sales and production would grow at a steadier pace in 2011, by between 10 and 15 percent, after the government raised the purchase tax for small cars to 10 percent and Beijing slashed the number of new registrations allowed in the capital this year.

Date created : 2011-01-10

  • AUTO IDUSTRY

    Peugeot eyes Chinese market with new model

    Read more

  • AUTO INDUSTRY

    China overtakes US as world's largest car market

    Read more

COMMENT(S)