China’s auto output and sales exceeded a record 12 million units each in the first 11 months of the year, state media said Monday, cementing the Asian giant’s status as the world’s largest car market.
Citing the China Association of Automobile Manufacturers, the official Xinhua news agency said sales and production of vehicles for the whole year were expected to both exceed 13 million units.
In November, sales reached more than 1.35 million units, the report said, citing preliminary statistics.
Shanghai Automotive Industry Corporation, China’s largest automaker, sold around 2.4 million vehicles in the first 11 months of the year, up 54 percent year-on-year, according to the report.
China’s total car sales outstripped those of the United States for the first time in January to make the Asian giant the world’s biggest auto market, helped by Beijing’s efforts to stimulate domestic consumption.
These measures included slashing taxes on cars with engines smaller than 1.6 litres and subsidising alternative-energy vehicles.
Last year, a record total of 9.4 million vehicles were sold in China, up eight percent from the previous year.