China Auto Market Shows Good Confidence

According to the news from China Association of Automobile Manufacturers (CAAM) reports that China auto sales showed strong signs of recovery after the country cut purchase taxes for small engine-sized cars and rolled out detailed stimulus package for auto sales in rural areas. Auto sales reached 2.64 million units in the first quarter of this year, up nearly 6 percent year on year.

 

According to Volkswagen's first quarter reports that China has overtaken Japan to become the fourth largest market. Under the shadow of global economy recession, Chinese market has become the most important for automakers across the world.

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