“China’s auto sales top 2.9m units in first two months”

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China Daily reports that auto sales over Januari and Februari are up 84 percent compared to the same months in 2009. One reason for this incredible growth are govermen t incentives, mostly for cars with an engine capacity under 1.3 litre and even more for under 1.0. And the economy is growing as a whole so people who waited last year are in today. The annual spring festival did help a bit bit not as much as China Daily seems to think. The annual festival is, ya’kna’, annual. China Daily talks:

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China’s auto sales maintained steady growth in the first two months of 2010, buoyed by the nation’s car purchase incentives and strong demand brought by the week-long Spring Festival holidays.

The combined auto sales in January and February surged 84 percent from a year earlier to 2.9 million units, with February’s figures alone reaching 1.2 million units, up 46 percent year-on-year, according to the China Association of Auto Manufactures (CAAM) Tuesday.

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China, the world’s largest auto market, adjusted the auto tax-cut policy and old-for-new program in January this year, to boost domestic consumption.

Ministry of Commerce said in February that the favorable policies for car purchasing had paid off, with a significant rise in the number of subsidy applications.

Dong Yang, the first deputy director of the CAAM, urged the nation’s automobile industry to properly handle the relationship between improving product quality and maintaining fast development.

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