China's Q1 home-made auto sales up 8 pct, growth pace slower

China's home-made auto sales went up eight percent year on year to 4.98 million units in the first quarter of this year, the China Association of Automobile Manufacturers (CAAM) said Sunday.


The pace of growth was 63.7 percentage points slower than that of the same period last year, said the association.


The home-made auto output totaled 4.9 million units in the first three months, up 7.48 percent year on year, but the growth pace was 69.51 percentage points slower than that of the same period in 2010.


Dong Yang, executive vice president and secretary-general of the CAAM, contributed the slower growth rates to oil price hike, expiration of purchases duty incentives, auto purchase restrictions in cities like Beijing and Japanese earthquakes.
(Source:http://news.xinhuanet.com)