Chinese vehicle sales up 34.4% in April

Vehicle sales in China grew by 34.4% year-on-year during April to more than 1.5 million units, helped once again by the extended purchase tax break on vehicles with engines below 1600-cc and the increased rewards under the nationwide vehicle replacement subsidy program. According to data released by the China Association of Automobile Manufacturers (CAAM), passenger car sales in the country rose 33.2% year-on-year (y/y) during April to 1.11 million units, while sales of commercial vehicles increased by 39.3% y/y to around 444,300 units. This led to an overall growth of 34.4% y/y during the month, with a total of more than 1.55 million vehicles sold. (May 11, 2010)