Asia

Friday, March 10, 2017 - 03:56

China Vehicle Sales Above 2 Million in February


BEIJING (MNI) - China's vehicle sales in February rose 33.77% year-on-year to 2.16 million units, the China Association of Automobile Manufacturers (CAAM) said on its website Friday.

On a month-on-month basis, sales fell 8.84% from 2.52 million units in January, according to CAAM. The monthly drop was largely due to the Chinese New Year holiday, CAAM said.

Passenger car sales rose 18.29% year-on-year to 1.63 million last month, compared with a fall of 1.1% in January, CAAM said.

China raised the purchasing tax on passenger cars with engines of 1.6 liters or smaller to 7.5% this year from 5% last year, the Ministry of Finance said previously.

China's vehicle sales grew 13.7% in 2016 and 4.7% in 2015. CAAM expects growth to slow to 5% this year.

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com

[TOPICS: MAQDS$,M$A$$$,M$Q$$$]

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