China auto sales hit record high in March

SHANGHAI: China's auto sales jumped 55.8 percent year-on-year in March to 1.74 million units, setting a new monthly record, according to figures released by an industry group Friday.

Vehicle sales in the first quarter rose 71.8 percent from the same period last year to 4.61 million, Dow Jones Newswires reported, citing the China Association of Automobile Manufacturers.

The March sales surpassed the previous record set in January, when auto makers sold more than 1.66 million vehicles.

Sales of passenger vehicles rose 63.2 percent on year in March to 1.26 million units, while sales in the January-March period rose 76.3 percent to 3.52 million units, it said.

China's auto sales hit 13.64 million units in 2009, overtaking the United States to become the world's top auto market as Beijing offered incentives such as lower taxes to boost the sector.