Analyst: Red-hot China set to cool a bit this year

Full-year light vehicle sales figures for 2009 confirm what the industry has known for months - China has formally overtaken the United States as the world's largest vehicle market.

China's sales expanded a remarkable 48 percent over 2008 as passenger vehicle purchases increased 47 percent to 8.73 million units and light commercial vehicle demand expanded 50 percent to 4.25 million units.

Sales set yet another record in December when about 1.35 million light vehicles were sold, an 89 percent increase from a year before.