China October car sales rise 75.8%

[rickaren]

China October car sales rise 75.8% on stimulus steps

Posted on Monday, November 9th, 2009 at 2:14 PM EST. (Employee News)

China’s passenger cars sales in October surged 75.8 percent from a year earlier, official data showed, extending the explosive growth in recent months as government incentive policies continued to lure customers, Reuters reported.

A total of 946,400 passenger cars were sold in October, up sharply from 538,500 units sold a year earlier, but slightly lower that 1.02 million units sold in September, the China Association of Automobile Manufacturers said on Monday, the news service said. China’s auto market has been a major bright spot amid a global industry downturn thanks to a raft of government incentives which had effectively bolstered consumer confidence, Reuters said.

Overall vehicle sales, from trucks to buses, jumped 72.48 percent in October to 1.23 million units from a year earlier, the association said, after gaining 77.99 percent in September, the news service noted. General Motors Co. more than doubled its China sales to 166,911 vehicles in October, continuing its string of monthly sales records since the beginning of the year. Ford Motor’s car venture in China sold 20,027 Ford brand vehicles in October, up 80 percent from a year earlier, company data showed, the story said. (Reuters)