China vehicle sales rise 8.8 per cent in April

BEIJING - China's vehicle sales increased 8.8 per cent year-on-year in April, an industry association said on Friday, as foreign automakers, including Ford Motor Co. , continue to cash in on local demand, despite the country's slowing economy.

China sold 2 million vehicles in the month in total, the China Association of Automobile Manufacturers reported, led by an 11.6 per cent year-on-year increase in cars to 1.6 million.

Ford said this week that sales at its Chinese joint ventures increased 29 per cent in April, following a 28 per cent year-on-year rise in March, and a 67 per cent increase in February.

Japan's Toyota Motor Corp also said this week that sales by its two local joint-venture partners increased 12.4 per cent in April.

China automobile sales reached 7.93 million in the the first four months of the year, representing 9.1 per cent growth over the same period last year, CAAM said.

But growth for the period was 4.1 percentage points lower than the first four months of last year.

CAAM has forecast the market will grow 8-10 per cent this year, slowing from last year's 13.9 per cent pace.