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China Becomes World's 2nd Largest Market for New Vehicles

China became the world's second largest market for new vehicles in 2006 next only to the United States, registering sales of 7.2 million cars, up 25.13 percent year-on-year, according to the China Association of Automobile Manufacturers on Thursday.


The country's automakers last year produced 7.28 million vehicles last year, up 27.32 percent over the previous year.


The output of passenger cars reached 5.23 million, up 32.76 percent, while the sales of such vehicles reached 5.18 million, up 30.02 percent.


The output of commercial vehicles rose 15.25 percent to 2.05 million in 2006, while sales reached 2.04 million, up 14.23 percent.


New vehicle sales were three times higher than sales of used autos in China. In the United States sales of used vehicles were two to three times higher than new ones.


(Xinhua News Agency January 11, 2007)

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