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China's auto sector hits new highs

12-11-2013 16:17 BJT

China's auto sales and output hit new highs in November, driven by strong demand for passenger vehicles.

The China Association of Automobile Manufacturers says auto sales rose 14 percent in November year on year to just over 2 million units, while production rose 21 percent from a year earlier to 2.1 million units.

Both figures were all-time highs for the industry, showing momentum for continued strong growth. Already the numbers for January to November exceed full year 2012. The association forecasts the industry to grow between 8 and 10 percent in the following five to 10 years.

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