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China car sales up 14.7% over January and February

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China car sales up 14.7% over January and February

Vehicle sales in China, the world’s biggest auto market, rose 14.7 percent for January and February combined from the same period a year earlier, the China Association of Automobile Manufacturers said on Monday. They fell 13.6 percent in February alone, CAAM said at a regular briefing.

Data for January and February were skewed due to the timing of the Lunar New Year holiday, a week-long break which fell in February this year but in January in 2012.

CAAM has said it expects overall vehicles sales this year to grow 7 percent, a third consecutive year of single-digit growth.Industry executives and experts believe such relatively slow growth is likely to lead to heightened competition in the market and cause smaller indigenous auto brands to struggle.

Vehicle sales in China rose 4.3 percent last year, up from 2.5 percent growth in 2011.

Via: ChinaDaily.

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