China’s vehicle sales may post a monthly record for March according to the official Shanghai Securities News.
China’s 14 auto groups, which account for roughly 90 percent of the country’s vehicle sales, sold 1.03 million vehicles last month, Chen Bin, head of the industry coordination department of the National Development and Reform Commission, was quoted as saying.
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Chen did not say how many passenger cars the big auto groups sold in March. Car sales reached 700,500 in March 2008, an all-time monthly high, official data showed.
Car demand in China picked up sharply in February, with monthly vehicle sales topping 800,000 units for the first time in eight months, helped by Beijing policy initiatives to support the market.
