China’s automobile sales and production increased sharply in January to February period, the China Association of Automobile Manufacturers, or CAAM, reported Thursday.

Auto sales logged an annual growth of 76.2 percent in January to February period. At the same time, production increased 88.9 percent from the last year.

The increase was largely caused by the low base levels as both production and sales declined amid the coronavirus epidemic last year.

In February, auto production increased 4.2 times and sales grew 3.6 times, the agency said.

The industry association said the current market demand is still recovering. Data showed that auto exports increased 97.8 percent to 224,000 units in January to February period.

The material has been provided by InstaForex Company – www.instaforex.com

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