January 11, 2018 / 6:55 AM / in 5 months

China Dec vehicle sales up 0.1 pct y/y - industry association

BEIJING, Jan 11 (Reuters) - China’s vehicle sales in December rose 0.1 percent from a year earlier to 3.06 million vehicles, marking a seventh consecutive month of gains, an industry association said on Thursday.

With that, the full-year sales for 2017 rose to 28.88 million vehicles, up 3 percent on year, data from the China Association of Automobile Manufacturers (CAAM) showed. This is against a 5-percent growth forecast set at the beginning of 2017.

According to CAAM, sales of new-energy vehicles (NEV) in December rose 56.8 percent from a year earlier to about 163,000 vehicles amid a government push to support the sector and shift away from traditional petrol-engine cars in the long term.

China’s auto market is likely to see growth of around 3 percent this year, CAAM said last month, in what would be a second straight year of lacklustre growth. (Reporting by Beijing Monitoring Desk)

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