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China drives sales for global majors

By Gong Zhengzheng, Li Fangfang and Zhang Ran (China Daily)
Updated: 2009-04-21 07:41

The China market beckons as a bright beacon for global automakers floundering in other choppy vehicle markets hit hard by the global financial crisis.

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First-quarter vehicle sales in China grew by 3.8 percent year-on-year to 2.68 million units, enabling the country to outstrip the US as the world's biggest vehicle market, according to latest industry data.

The China Association of Automobile Manufacturers forecasts full-year vehicle sales to reach 10.2 million units, up almost 9 percent from last year.

"China's overall auto market may grow by 6 percent this year while the luxury segment will be double the growth," said Dieter Zetsche, chairman of Daimler AG and Mercedes-Benz.

The premium brand's China sales jumped 30 percent to more than 11,000 vehicles in the first quarter...

The full text is available in the April Issue of Auto China.Please visit publications for more subscription details.