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China auto sales up 55.7 percent in August
Thu, Sep 02, 2010
AFP

SHANGHAI - China's auto sales jumped 55.7 percent in August from a year earlier, boosted by Beijing's new subsidies scheme for energy-saving vehicles, state media said Thursday.

Vehicle sales in the world's largest auto market rose to 1.22 million units in August, the Shanghai Securities News reported, citing figures from the China Automotive Technology and Research Centre.

Sales in August were 15.1 percent higher than the previous month and the growth was likely to continue into September, the report said.

China announced a trial programme in June to subsidise energy-saving vehicles in five cities as part of efforts to reduce emissions, save energy and spur the development of green technology.

Under the trial project, the government offers subsidies of up to 60,000 yuan (S$11,910) for hybrid and electric cars and 3,000 yuan for fuel-saving models.

China's auto sales for 2009 hit 13.64 million units as the nation took over the title of the world's top auto market from the United States.

After last year's breakneck growth, sales have slowed in recent months, partially due to seasonal factors, but 2010 sales are still forecast to top 15 million units -- about a 20 percent on-year increase.

 

 

 

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