China’s passenger car sales hit record in April
Based on the data published by the China Automobile Manufacturers Association, the country's passenger car sales hit record 285'360 units in April as customers plunged back into the market. Chinese carmakers reported weak sales in the previous months as consumers damped their purchases in anticipation of more price reductions. Passenger car sales saw a month-on-month increase of 7.2% and a year-on-year rise of 15.7% in April. Chinese automakers sold 901'380 units in the first four months of 2005, a year-on-year increase of 3.2%, according to the report.