Source: CCTV.com

03-11-2009 14:09

Various stimulus measures have boosted auto sales in China, which reached over 800,000 units in February.

Industry statistics show February auto sales surpassed 827,600 units. The 2008 monthly average was only nearly 46,000 units. Industry inventory also reached its lowest points in 2 years.

Various stimulus measures have boosted auto sales in China, which reached over 800,000 units in February.

Xiong Chuanlin, deputy secretary general of China Association of Auto Manufacturers, says, "after all, our economy is growing. Our GDP scale is expanding.

And on January the 14th, the State Council passed an Auto Industry Stimulus Plan. The tax-cut for low emission vehicles also boosted car market sales last month."

Figures also show, that passenger autos with engines under 1.6 liters surged nearly 19 percent in February. This accounted for nearly 70 percent of the total market shares.

Xiong Chuanlin says, "some policies in March, like subsidies for rural car purchase and incentives for old car scrap, could all have positive impacts. All the details of the national auto industry revival plan have to be implemented for a full recovery."

But analysts point out sales for middle- and high-end vehicles shrunk dramatically. That has reined in the overall market scale.

Figures also show February auto exports totaled 21,700 units, down nearly half from the same period last year.

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Editor:Qin Yongjing