Car insurance: China and India lead the way in car sales

Thursday, 10 December 2009

China and India are leading the way in car sales at the moment, providing further signs that momentum in the car industry is shifting to Asia, motor insurance customers may be interested to know.

Car sales nearly doubled in China during November against a year earlier, while in India sales rose 61 per cent on the back of a rebounding economy and a recovery in the car finance market.

The growth follows this week's landmark transaction in Asia when General Motors (GM) announced it was ceding majority control of its thriving Chinese passenger car venture to Shanghai Automotive Industry Corp, its state-owned Chinese partner.

A total of 1.04 million passenger cars were sold in November in China, according to the China Association of Automobile Manufacturers.
GM's executive vice-president also announced this week plans to tap India's burgeoning car market with an investment of $650 million (£400 million).

In India, car sales were up to 133,687 in November from 83,121 a year earlier, according to data from the Society of Indian Automobile Manufacturers.

Posted by Rick Malone

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