China’s automotive sales up 12% in January 2013

Chinese automobile sales and production volumes both hit all-time monthly highs in January, according to statistics released by the China Assn of Automobile Manufacturers (CAAM) on Thursday February 7.

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Sales were up by 12.41% month-on-month in January to 2.03 million units, while the year-on-year improvement was 46.38%.

The rise was mainly due to the strong performance of the passenger car market. About 1.73 million cars were sold during the month, up by 17.95% from December and by 48.68% on an annual basis.

Sales of commercial vehicles were down 10.97% month-on-month to 309,000 units, although this was still 34.75% higher than in January 2012.

Total vehicle production increased to 1.96 million units, up by 10.06% month-on-month, and 51.17% higher year-on-year.

CAAM attributed the rise to improved demand and there being five more working days in January 2013 compared with last year.