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China March vehicle sales up 4.0 pct y/y – industry association

BEIJING, April 11 (Reuters) – China vehicle sales rose 4.0 percent year-on-year in March from a year earlier to 2.5 million vehicles, the China Association of Automobile Manufacturers (CAAM) said on Tuesday.

That compares with a 22.4 percent increase in February and 0.2 percent growth in January.

In the first quarter of 2017, sales grew 7.0 percent compared to the same period a year ago, the association said at a briefing in Beijing.

In January, CAAM predicted that sales would rise 5 percent this year, slowing from the 13.7 percent growth in 2016 due to the rollback of a tax incentive for small-engine cars. (Reporting by Lusha Zhang and Jake Spring; Editing by Muralikumar Anantharaman)

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