11 April 2013 08:59 [Source: ICIS news]
SINGAPORE (ICIS)--China’s vehicle sales in March increased by 10.7% year on year and 50.2% month on month to a historical high of 2.03m units, official industry data showed on Thursday.
Vehicle production in March rose by 10.9% year on year and 54.8% month on month to 2.09m units, which is also a new high, according to the data from China Association of Automobile Manufacturers (CAAM).
Sales of passenger cars inched up by 13.3% year on year to 1.59m units, and production of such cars increased by 13.8% to 1.66m units.
Total vehicle sales in the first quarter increased by 13.2% year on year to 5.42m units, with the production in the period rising by 12.8% to 5.40m units, the data showed.
Passenger car sales in the first quarter was at 4.42m units, up by 17.2% from a year ago, while production of passenger cars was at 4.38m units, up by 16.2% year on year, according to the data.
The March figures were better than expected, demonstrating strong confidence among consumers, the association said.
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