China's Passenger Car Sales Growth Slows in Feb

BEIJING, Mar. 8 -- The growth in sales of passenger cars in china slowed to 45% year on year in February due to weak demand amid the Chinese New Year holiday, the China Passenger Car Association said on Friday.

The world's largest auto market saw passenger car sales total 881,085 units last month. By comparison, January's sales jumped 84% from a year earlier to 1.22 million units, the association said.

The country is set to release official figures on total vehicle sales next week.

China's overall vehicle sales, including buses and trucks as well as cars, surged 126.3% from a year earlier to 1.66 million units in January, according to statistics from the official China Association of Automobile Manufacturers.

China has overtaken the U.S. as the world's largest auto market thanks to government stimulus measures, which include sales tax rebates for purchase of small cars and subsidies for buyers in rural areas.