China sells 1.153 mln vehicles in April, up 25% y/y

Sales of China's domestically made vehicle set a record high of 1.153 million units in April, up 25 percent from a year earlier, the China Association of Automobile Manufacturers (CAAM) said Friday.

This represents an increase of 3.91 percent from March. In March, sales rose 5 percent year-on-year to 1.11 million units.

Automakers produced 1.157 million motor vehicles last month, up17.9 percent year-on-year, according to CAAM. It was 5.61 percent higher than March.

CAAM said the April figure showed the country's auto industry had seen signs of recovery as the government's stimulus policies began to have an effect.

The association said the continuous pick-up in passenger car sales was bolstered by government stimulus policies. China unveiled a support package for the auto industry early this year, cutting purchase taxes for cars with small engine capacities and providing subsidies to rural purchasers.

In the first four months, motor vehicle sales hit 3.832 million units, up 9.4 percent year on year, while a total of 3.725 million units were produced, up 6.4 percent, according to CAAM.

Passenger car (sedans, SUVs and MPVs) sales in April rose 37.37percent from a year earlier to 831,000 units. The March figure stood at 772,400 units. While commercial vehicles (buses, trucks and pick-ups) fell 4.53 percent from March to 322,100 units in April, but rose 1.38 percent from a year earlier.

Passenger car sales in the first four months climbed 15.09 percent from a year ago to about 2.83 million units. Production totaled more than 2.69 million units, up 9.75 percent year on year.