China's auto market passes 2m mark in Q1

The production and sales of vehicles in China in March helped drive the total figures for the first quarter of the year past the 2-million mark for the first time in history, the China Association of Automobile Manufacturers said yesterday.

In March, 2.09 million units of vehicles were sold, up 10.9 percent from a year earlier, while 2.04 million units were produced, a 10.7-percent annual rise.

This strong upward trend pushed production of cars in the country during January-March up 12.9 percent from a year earlier to 5.4 million units while deliveries expanded 13.2 percent to 5.43 million units, which "sets a good foundation for stabilizing the production and sales situation for the whole year," the association said.

Striking an "optimistic" note, the association in January targeted 7-percent growth in auto sales this year despite the relatively sluggish market.

China's auto market grew 4.33 percent last year, slightly better than the 2.45 percent increase in 2011.