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China 2013 vehicle sales up 13.9 pct -industry group


BEIJING, Jan 9 (Reuters) - Vehicle sales in China rose 13.9
percent last year from a year earlier, beating expectations and
capped off by a 17.9 percent surge in December, the China
Association of Automobile Manufacturers (CAAM) said on Thursday.
    The results far exceeded the industry group’s forecast of 7
percent for the full year, marking a solid rebound in the
world’s biggest automobile market following two years of
stagnant growth. 
    The recovery was partly aided by a rebound in sales of
Japanese cars, whose China sales had slumped in 2012 due to
anti-Japanese sentiment triggered by a territorial dispute
between the two countries.
    China’s vehicle sales growth rate plummeted in 2011 and 2012
to 2.5 percent and 4.3 percent, respectively, after a decade of
rapid growth when auto demand often surged as much as 30 to 40
percent a year. 
 
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