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China's auto market maintains steady growth

Xinhua, August 12, 2016 Adjust font size:

China's auto market maintained steady expansion in July thanks to rising demand and favorable policies, data from an industry association showed Friday.

Auto output rose 28.9 percent year on year to 1.96 million vehicles in July, and auto sales increased 23 percent to 1.85 million, according to China Association of Automobile Manufacturers (CAAM).

In the first seven months, auto output and sales rose 9 percent and 9.8 percent year on year.

The continued growth could be attributed to ongoing purchase tax reduction for small-displacement cars, booming demand for SUVs and rising highway freight transportation, said CAAM deputy secretary general Ye Shengji.

Output and sales of passenger cars jumped by 31.8 percent and 26.3 percent year on year in July. New energy vehicles remained popular, with both output and sales nearly doubling year on year. Endi