China August vehicle sales up 10.3 percent year-on-year - industry group

Reuters

BEIJING (Reuters) - Vehicle sales in China rose 10.3 percent in August from a year earlier, according to the China Association of Automobile Manufacturers (CAAM), pointing to a recovery in the world's biggest automobile market.

During the first eight months of the year, vehicle sales rose 11.8 percent, putting the industry on track to reach the 7 percent annual growth forecast made by CAAM in January.

U.S. automakers are taking market share from their Japanese rivals, whose sales in China have been hit by a territorial dispute which flared anti-Japanese sentiment last September.

Ford Motors (F.N) saw a 50 percent jump in vehicle sales during the Jan-August period, while sales at General Motors Co (NYS:GM) rose 10.7 percent during the period.

Japanese carmakers all posted declines in vehicle sales during the first eight months, led by Mazda Motor , which saw a decline of 20.8 percent.

(Reporting by Aileen Wang and Jonathan Standing; writing by Samuel Shen)

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