China Passenger Car Sales Rise to Record

Passenger car sales in China jumped by 27% in November, compared to the same period last year.

The China Passenger Car Association now says that sales have exceeded 1.28 million cars last month, up 10.5% from October. The association also predicts that sales will continue to increase in December.
Government stimulus policies, including tax rebates and vehicle trade-in subsidies, have been spurring car sales here in China. China is already the world's largest market for new automobiles, after overtaking the United States last year.
The China Association of Automobile Manufacturers is now set to release its November vehicle sales data tomorrow.