Auto Group: China's Aug Vehicle Sales Up 4 Percent

By: AP
By: AP

The group reported Friday that 1.38 million passenger cars were sold in August, compared with 1.32 million a year earlier.

China auto sales surged in 2009 and 2010, driven by subsidies and tax cuts meant to help the industry rebound from the global crisis.

Sales rose 32 percent last year to 18 million vehicles.

But the lackluster growth seen in recent months has prompted most analysts to slash sales forecasts for this year to below 20 million vehicles.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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