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23 April 2024

China auto sales may have topped US in January


China may have overtaken the US in vehicle sales last month as small car purchase tax cuts and subsidies lured buyers into showrooms.  However, sales look to fall below the record set last year.

Official data for China’s auto sales in January will not be out until next week. They are expected to show sales at about 790,000 units for the month, said Zhang Xin, an analyst at Guotai Junan Securities, on Wednesday. Sales are down about eight per cent from the 860,000 vehicles sold in China last January. However, it surpasses the 656,976 vehicles sold in the US last month.