China Economic Review: Auto sales rose 32% in China last year to 18.06 million units, state media reported, citing the China Association of Automobile Manufacturers (CAAM). Passenger car sales rose slightly more, increasing 33.2% to 13.75 million units.
Total auto production rose 32.4% to 18.26 million units. The CAAM said it expected auto sales growth to slow in 2011 to 10-15%. Sales last year were boosted by a low purchase tax on vehicles with engine displacements of 1.6 liters or less; the purchase tax had been halved in 2009 to 5% and raised to 7.5% last year. Read more at China Economic Review…..
Editor’s note: China auto sales are expected to exceed 20 million in 2011.