China vehicle sales up 8.26% in August

Auto sales in China rose by 8.26% year-on-year in August to around 1.50 million units, Reuters reported, citing a statement by the China Association of Automobile Manufacturers. August growth figures were up slightly from July’s 8.20% on-year growth, with 12.47 million vehicles sold in the first eight months of the year. The world’s largest auto market slowed last year after the government stopped incentivizing purchases of some cars in an effort to reduce traffic congestion and pollution. Sales grew just 2.5% in 2011 to 18.51 million units, following 2010 growth figures of 32%. While the market as a whole is booming, foreign manufacturers are faring better due to stronger brands and the perception of higher quality. General Motors (GM.NYSE) saw sales increase 11.2% in the first eight months and sold more than 1.8 million units.