China's car market went up in 2009 thanks to the government that supported car sales by reducing taxes on purchasing cars up to 1.6 liter engine. Rao Da, secretary general of China Passenger Car Association announced a growth of 52.5 percent in the first 10 months of 2009, compared the same period of 2008.
"The government's favorable tax policy and the eight-day National Day holidays spurred sales in October. The robust trend was also aided as vehicle manufacturers produced more popular models during the period and reduced the delivery time," said Rao.
"We are optimistic that the November figures would surpass that of October as sales normally peak toward the end of the year," he said.
"More importantly, by the end of November, total vehicles sales in China will surpass the 12-million-unit target, set by the government under its automobile industry restructuring plan of last year, some 25 months in advance," said Rao.
"We expect full-year automobile sales to touch 13.5m with a year-on-year growth rate of 44 percent. That in turn, would make China the world's largest automobile market for the whole year."
These figures explain the international interest for the Chinese market, as sales continue to rise at a serious pace. As you might know, the Chinese bought important international automakers like Hummer and are very close to buying Volvo.
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