BEIJING May 10 China's vehicle sales increased
8.8 percent year-on-year in April, an industry association said
on Friday, as foreign automakers, including Ford Motor Co.
, continue to cash in on local demand, despite the
country's slowing economy.
China sold 2 million vehicles in the month in total, the
China Association of Automobile Manufacturers reported, led by
an 11.6 percent year-on-year increase in cars to 1.6 million.
Ford said this week that sales at its Chinese joint ventures
increased 29 percent in April, following a 28 percent
year-on-year rise in March, and a 67 percent increase in
Japan's Toyota Motor Corp also said this week that
sales by its two local joint-venture partners increased 12.4
percent in April.
China automobile sales reached 7.93 million in the the first
four months of the year, representing 9.1 percent growth over
the same period last year, CAAM said.
But growth for the period was 4.1 percentage points lower
than the first four months of last year.
CAAM has forecast the market will grow 8-10 percent this
year, slowing from last year's 13.9 percent pace.
(Reporting By Matthew Miller; Editing by Nick Macfie)