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China's auto sales grow 6.7% in 2008

Published: 13 Jan 2009 00:00:00 PST

Jan. 13, 2009 (China Knowledge) - China's auto sales grew 6.7% year-on-year to 9.38 million units in 2008, the first single-digit growth rate since 1999, the official Xinhua News reported, citing statistics released by the China Association of Automobile Manufacturers (CAAM),

CAAM said sales of passenger cars including sedans, multipurpose vehicles (MPVs) and sport-utility cars (SUVs) rose 7.27% year-on-year to 6.76 million units.

The report said that both auto sales and production were lower than the projected 10 million by CAAM at the beginning of 2008.

In 2007, China's auto sales growth rate was 21.84%, with 8.79 million cars being sold.

Several overseas car makers' JVs in China reported sales slowdown last year, including Shanghai General Motors Corp Ltd and Changan Ford Mazda Automobile Co Ltd, while Volkswagen AG and Toyota Motor Corp saw sales increases in China last year.

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