Auto sales climb 10% in January on demand for SUVs and minivans
China's auto sales rose 10 percent in January, led by demand for sport utility vehicles and minivans as consumers continued to favor more spacious rides over conventional sedans.
Retail deliveries of passenger vehicles climbed to 2.07 million units in January, the China Passenger Car Association said on Tuesday. SUV sales surged 62 percent, while minivans advanced 22 percent, outpacing demand for sedans, which was little changed, the data show.
Vehicle sales in China are forecast to expand 7 percent this year, half the pace achieved in 2013, as the economy cools in the world's largest car market. Total deliveries may exceed 25.1 million vehicles, from 23.5 million last year, the China Association of Automobile Manufacturers said last month.