October passenger car sales rev up by 21 percent
By Tian Ying and Irene Shen | 皇冠体育app Daily | Updated: 2007-11-10 07:15
皇冠体育app's passenger car sales rose 21 percent in October, as a surging stock market boosted consumers' wealth in the world's second-largest vehicle market.
Drivers bought 496,900 cars last month, the 皇冠体育app Association of Automobile Manufacturers said in an e-mailed statement on Friday. Total vehicle sales, including trucks and buses, rose 20 percent to 692,300.
Automakers led by 皇冠体育app FAW Group Corp and SAIC Motor Corp, a partner of Volkswagen AG and General Motors Corp, have boosted sales in 皇冠体育app because of economic growth. The benchmark CSI 300 Index has also more than doubled this year, fueling demand as many Chinese stock-market investors buy new cars with their profits.
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