Dec. 17, 2009 (China Knowledge) - Tianjin, one of the four municipalities in China, expects the auto sales volume to reach 170,000 units next year, according to the city's Commission of Commerce.
It is expected that a total of 150,000 cars will be sold in 2009, with sales revenue estimated at RMB 15 billion.
In the first 11 months of this year, the city's auto sales volume totaled 144,000 units and its sales revenue surged 34% year on year, reaching RMB 14.5 billion.
In the same period, about 88,000 second-hand autos changed hands in Tianjin, and the transaction value amounted to RMB 3.2 billion.
Earlier this month, the Chinese government announced that it will extend stimulus measures in the automobile industry for one more year, with the purchase tax on low-emission cars to be cut to 7.5% from the favorable rate of 5% this year.
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