China's car industry revs up again 18th July 2005
Chinese car sales rose in June for the fourth month this year, according to new figures, as an end to discounts convinced some customers to return to show rooms.
General Motors, Hyundai Motor, Honda Motor and Toyota Motor have raised their full-year targets and industry executives predict more growth in the second half of the year.
Car sales rose to 375,500 units in June, up 48.7 per cent from a year earlier, the biggest monthly gain in 15 months.
Production of cars rose 20.9 per cent to 367,300 units, according to the China Association of Automobile Manufacturers.
Sales of all vehicles, including cars, vans and trucks, rose 36 per cent to 517,000 units while output rose 19 per cent to 498,100, the group said.
A growing middle class in China and the development of larger disposable incomes has transformed the country's consumer society in recent years.
However, the automotive industry had seen the dramatic growth – which was the fastest in the world – tail off in recent months.
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