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China's auto market passes 2m mark in Q1
Aggregated Source: Shanghai Daily: Business

THE production and sales of vehicles in China in March helped drive the total figures for the first quarter of the year past the 2-million mark for the first time in history, the China Association of Automobile Manufacturers said yesterday.

In March, 2.09 million units of vehicles were sold, up 10.9 percent from a year earlier, while 2.04 million units were produced, a 10.7-percent annual rise.

This strong upward trend pushed production of cars in the country during January-March up 12.9 percent from a year earlier to 5.4 million units while deliveries expanded 13.2 percent to 5.43 million units, which "sets a good foundation for stabilizing the production and sales situation for the whole year," the association said.

Striking an "optimistic" note, the association in January targeted 7-percent growth in auto sales this year despite the relatively sluggish market.

China's auto market grew 4.33 percent last year, slightly better than the 2.45 percent increase in 2011.

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Copyright Shanghai Daily: Business