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China August car sales jump 90%

China August car sales jump 90% on stimulus measures

Posted Wednesday, Sep 9, 2009, 1:28 pm in Employee News

China’s passenger-car sales surged a record 90 percent last month, as tax cuts and government subsidies spurred demand, bringing the nation closer to overtaking the United States as the world’s largest auto market, Bloomberg reported.

Sales of cars, sport-utility vehicles and multipurpose vehicles, rose to 858,300 in August, the China Association of Automobile Manufacturers said in a statement today, the news service said.

This year, a 4 trillion yuan ($586 billion) stimulus plan has shielded China from the global recession, helping car sales jump at least 45 percent for four months in a row, Bloomberg noted. Full-year sales of cars, trucks and buses may hit 12 million, the government said last week. Overall vehicle sales, including trucks and busses, rose 82 percent to 1.14 million. Commercial-vehicle sales climbed 60 percent to 280,200 units, the story said. (Bloomberg)

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