Source: CCTV.com
04-20-2009 13:36
China's auto industry has become a driving force in the country's economic growth. China's vehicle sales surpassed the United States for three consecutive months in the first quarter. China is now the world's largest auto market.
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| China's auto industry has become a driving force in the country's economic growth. |
A series of measures to boost China's auto industry pushed steady growth in car sales in the first quarter. Total vehicle sales reached 2.6 million units, the highest in the world, and up almost four percent on the same period last year.
Yao Jingyuan, Chief Economist of National Bureau of Statistics said "Sales in March reached a record monthly high of 772 thousand units. That is an increase of 22 percent year on year and up 26 percent from February. First quarter performance suggests that the auto industry has made a great contribution to the overall economic recovery."
Out of all the measures to boost auto sales, tax cuts on cars with engine capacity of less than 1.6 liters have had the most obvious effect. 1.4 million small engine cars were sold in the first three months, up over 20 percent on the same period last year. Small car sales account for three quarters of China's total auto market.
The government will implement more measures to boost auto consumption to ensure the gradual recovery of the industry. It will also inject ten billion yuan to support new technology development, new energy cars and the auto parts industry.
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Editor:Xiong Qu
