China auto sales rise in Jan-Feb

Auto sales in China, the world's top car market, rose in the first two months of the year, an industry group said yesterday, indicating strong demand as the country's economy gradually recovers. A total of 3.39 million vehicles were sold in the country over January and February, rising 14.7 per cent from the same period last year, the China Association of Automobile Manufacturers (CAAM) said. "The auto industry had a good start this year and the overall market demand for cars has remained strong." Giving the figure for the two months reduces seasonal distortions due to the Lunar New Year holiday, which fell in February this year but January in 2012. Total auto sales declined by around 14 per cent year-on-year to 1.35 million units in February, the CAAM said, blaming the week-long holiday for the drop.