China Domestic Auto Sales to Hit 10M This Year

22 June 2008

Xinhua. China’s domestic automobile sales are expected to hit 10 million this year, a 14% increase from last year’s 8.79 million units, according to the China Association of Automobile Manufacturers.

Data from the association shows more than 4.3 million vehicles were sold in China in the first five months of 2008, an increase of 17% from the same period last year.

China’s fast-growing economy created sound environment for the development of the automobile industry, Dong Yang, vice chairman of the association, said at an industry meeting held in the coastal city of Yantai in the eastern Shandong Province.

Despite of the slowing growth in business vehicles sales, demand for passenger cars remained robust, he said.