China Car Sales Likely Hit New Record in April
07 May 2009
People’s Daily. Bolstered by government stimulus plans, sales of autos in China likely reached a record high of 1.15 million units, according to estimates from the China Association of Automobile Manufacturers (CAAM). Official figures for vehicle production and sales are scheduled for release next Monday.
Assuming the CAAM figures are borne out by official data, April would be the fifth straight month of growth for the industry. China unveiled a support package for the auto industry early this year, cutting purchase taxes for cars with small engine capacities and providing subsidies to rural purchasers.
According to CAAM, sales of minivans and economy cars surged in April, with SGMW and ChangAn, China’s two largest minivan makers, recording sales gains of more than 50 percent from last year. Sales of China’s Chery, which makes cars with small engine capacities, hit a record high of more than 42,000 units in April.
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