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China: Incentives push SAIC car sales up 45 percent

SAIC Motors, China’s largest carmaker, says its vehicle sales rose 45 percent in February as Beijing’s policy incentives continued to drive buyers into showrooms in the world’s largest car market.

China has been a major bright spot amid a global industry downturn as the government’s policy incentives, including cuts on sales tax for small cars, bolster automobile demand.

SAIC, a China partner of General Motors and Volkswagen, says it sold 248,000 vehicles in February, compared with 307,384 in January, when sales were up 90 percent from a year earlier.

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