China's auto sales up 3% in H1

BEIJING -- China's automobile sales hit 9.6 million units in the first half of the year, up 2.93 percent year-on-year, data released Wednesday by the China Association of Automobile Manufacturers showed.

Auto output during the period hit 9.53 million units, up 4.08 percent year-on-year, according to the CAAM data.

Sales of passenger vehicles hit 7.61 million units, up 7.1 percent, while production hit 7.6 million units, up 7.9 percent, the data showed. Sales and output of sport utility vehicles saw the fastest growth, surging more than 30 percent year-on-year.

However, sales of commercial vehicles slid 10.4 percent to 1.98 million units, while commercial vehicle output declined 8.6 percent to 1.93 million units, according to the data.

China's automobile industry welcomed a boom period in 2009 and 2010. The nation overtook the United States to become the world's largest auto market in terms of sales in 2009. Sales continued to surge in 2010, jumping more than 32 percent to hit 18.06 million units.

However, sales growth became more moderate last year with a slowing economy and the expiration of policy incentives for car purchases. CAAM said auto output and sales are not likely to rebound sharply in the short-term, as the Chinese economy still faces downward pressure.

The top ten auto producers sold 8.45 million vehicles in the first half, up 4.5 percent. Their sales accounted for 88 percent of total sales, up 1.4 percentage points year-on-year, the data showed.