China Feb vehicle sales up 18 pct y/y - industry group

Mon Mar 10, 2014 5:43am EDT

SHANGHAI, March 10 (Reuters) - Vehicle sales in China jumped
18 percent in February from a year earlier, China's automobile
makers' association said on Monday, marking a strong rebound
from January's 6 percent pace.
    A total of 1.6 million vehicles were sold in the world's
biggest automobile market in February, the China Association of
Automobile Manufacturers (CAAM) said in a statement.
    Growth was partly driven by strong performance of foreign
brands such as Toyota and Ford. Last month, Toyota Motor Corp
 reported a 43.1 percent rise in sales, while Ford Motor
Co's sales in China jumped 67 percent.
    In contrast, local Chinese brands registered their sixth
consecutive monthly decline in market share, according to CAAM.
    In the first two months of this year, vehicle sales rose 11
percent year on year. The industry body has forecast China's
auto market would grow 8-10 percent in 2014.

 (Reporting by Samuel Shen and Kazunori Takada; Editing by Matt
Driskill)
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