Wednesday, March 01, 2006

China's Geely 2005 sedan sales surge 50 pct to 150,000 units

BEIJING (AFX) - Geely Holdings Group, China's largest privately-owned automaker, said it sold more than 150,000 sedans in 2005, jumping 50 pct from a year earlier. The company said in a press release that the surge in sales was mainly due to technology innovation and the low prices of its economy cars. Geely this month became the first Chinese automaker to attend the Detroit auto show. According to statistics released last week by the China Association of Automobile Manufacturers (CAAM), the country's total auto sales were up 13.5 pct at 5.76 mln in 2005, while passenger car sales rose 21.4 pct to 3.97 mln units.

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