China Posts Record Vehicle Sales in March

Sales of vehicles in China hit a record last month.

Chinese people….bought 1.10 million vehicles in March, up some five per cent from the previous record of 1.06 million in March last year, data from the China Association of Automobile Manufacturers showed.

Growth in sales had slowed in 2008 to its lowest annual rate in more than a decade as the global financial crisis took its toll towards the end of the year, prompting many Chinese to keep their wallets shut tight in case of more problems ahead. However, the government support measures introduced in February have spurred the market.

Foreign manufacturers also benefited. Ford Motor expects to grow faster than the overall China market this year…

Regardless of its miseries back home, General Motors said it sold 137,004 vehicles in China in March, up 24.6 percent from a year earlier. [via Timesonline]

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