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Economy

China's auto sales, output exceed 1m in Nov

(Xinhua)
Updated: 2009-12-08 21:21

BEIJING: China's auto production and sales almost doubled the previous year figures to reach 1.39 million and 1.34 million units in November, the China Association of Automobile Manufacturers (CAAM) said Tuesday.

Overall auto production topped 12.27 million units in the first 11 months, up 41.59 percent from the same period last year; auto sales stood at 12.23 million in the January-November period, up 42.39 percent year on year.

The association forecast sales and output for 2009 would both surpass 13 million units.

The country's largest auto maker, the Shanghai Automotive Industry Corporation, sold about 2.43 million auto units in the first 11 months, up 54.51 percent year on year.

The association attributed the increases to a series of government stimulus measures to boost domestic consumption.

China in January halved the purchase tax on passenger cars to five percent for models with engine displacements of less than 1.6 liters, a move to shore up domestic auto consumption.