China Nov passenger-car sales up 98%, 5 yrs most

Shanghai, December 8 (Gasgoo.com) China's passenger-car sales surged 98% year on year to 1.04 million last month, the most in at least five years, Bloomberg reported today, citing industry figures.

In November, total vehicles sales, including commercial vehicles, rose 96% to 1.34 million, and for the first 11 months, China's auto sales rose 42% to 12.2 million, with passenger-car sales surging 49.7% to 9.23 million. The full-year auto sales will likely break the 13 million mark.

The passenger car sales include those of sedans, SUVs and minivans. Government incentives spurred demand in China, which is set to surpass the U.S. as the world's biggest auto market this year.

Stimulus measures for auto sales included having sales tax to 5 percent and 10 billion yuan of subsidies to help consumers buy and upgrade vehicles for fuel efficiency and eco-friendliness.

SAIC Motor, China's biggest automaker, sold about 2.44 million vehicles in the Jan.-Nov. period, up 54% year on year, with sales by its joint venture Shanghai GM up 50.5% to 627,495 cars.