China Sets Sales Record in January

Like there was any need for another confirmation of last year's great performance in the automotive market, China has set yet another record when it comes to its people's appeal for new vehicles: 1.66 million units were sold in the country in January, representing a huge 124 percent leap from the figures registered one year ago.

According to data submitted by the China Association of Automobile Manufacturers (CAAM), cited by AFP, last months' figures also represent a leap of 16.8 percent compared to December 2009. Aside from selling so many cars, China also produced 1.61 million vehicles.

As is the case with all markets and carmakers, the figures posted for January 2010 need to be compared to a somewhat week January 2009. Still, no one in the industry, market or carmaker, posted such a big growth so far compared to 2009.

The record which got shattered this January was set only one month before, when China sold 1.4 million cars. In January, production of vehicles in the country grew by 5 percent, with passenger cars registering a boost of 113.2 percent.

Since December 2009, China became the number one market in the world, with sales for the year exceeding 2.7 million cars and trucks. The numbers are by far exceeding J.D. Power’s reports issued earlier this year, which estimated a sales figure of just 9 million vehicles for China and indicated 2025 as being the year in which this country will overtake the U.S. in terms of automotive sales.