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July 9 (Bloomberg) -- China’s passenger-vehicle sales rose 48 percent in June, the biggest jump since February 2006, as government stimulus spending spurred a revival in the world’s third-largest economy.
Chinese motorists bought 872,900 cars, sport-utility vehicles and other passenger vehicles last month, the China Association of Automobile Manufacturers said in a statement today. Overall auto sales, including buses and trucks, rose 36 percent from a year earlier to 1.14 million.
A 4 trillion yuan ($585 billion) economic package has helped China surpass the U.S. as the world’s largest auto market this year and boosted sales for companies from General Motors Corp. to Alcoa Inc. The country is “a positive force” that will help drive growth as the world emerges from the global recession, billionaire George Soros said yesterday.
“China’s downward slide is clearly over,” said Wang Qingtao, an analyst at First Capital Securities Co. in Shenzhen. “There is also huge natural demand for vehicles, which will continue to drive the industry for years to come.”
China Car Sales Jump 48% on Economic Stimulus, Most Since 2006 - Bloomberg.com
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Chinese motorists bought 872,900 cars, sport-utility vehicles and other passenger vehicles last month, the China Association of Automobile Manufacturers said in a statement today. Overall auto sales, including buses and trucks, rose 36 percent from a year earlier to 1.14 million.
A 4 trillion yuan ($585 billion) economic package has helped China surpass the U.S. as the world’s largest auto market this year and boosted sales for companies from General Motors Corp. to Alcoa Inc. The country is “a positive force” that will help drive growth as the world emerges from the global recession, billionaire George Soros said yesterday.
“China’s downward slide is clearly over,” said Wang Qingtao, an analyst at First Capital Securities Co. in Shenzhen. “There is also huge natural demand for vehicles, which will continue to drive the industry for years to come.”
China Car Sales Jump 48% on Economic Stimulus, Most Since 2006 - Bloomberg.com
_________________
Online Trading and Investing Community - Zantrio
Day Trading - Strategies for Day Trading in the Financial Markets
Swing Trading - Swing-Trading Stock Picks with Price Targets and Alerts
