Chinese demand boosts global auto sales

Auto sales in China were up 21% in the first quarter of 2008 over the same period last year, the Wall Street Journal reported. About 2.58 million vehicles were sold on the mainland between January and March, helping boost sales of large automakers during a slowdown in demand in the US. Honda posted 29% sales growth worldwide during the quarter – despite a 0.4% decrease in the US market – helped by a 79% increase in sales in China in March alone. Ford’s China vehicle sales grew 47% over the first three months, a record for the company. Volkswagen sold a record 103,200 vehicles in China during the period, while BMW’s sales increased 43.2%. General Motors’ China sales rose by 6.8%, well below the average.