10 June 2009 11:24 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s auto sales volume in May rose by 34% year on year to ?xml:namespace>
“Unlike the US, the auto market this year in China could still remain a strong sales growth mainly due to the stimulus measures from the government,” said Li Jun, an analyst with Shanghai-based brokerage firm Guosen Securities.
The government has also provided subsidies to farmers who buy smaller cars and incentives for consumers to replace their automobiles.
“The [sales of smaller cars]… will show a robust and stable growth this year, and demand in towns and counties in the next few months will rise gradually with a recovering economy. These factors will boost
The country’s volume of auto exports in May fell 64.36% year on year to 24,000 units, the association said.
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