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News from China Association of Automobile Manufacturers (CAAM for short as below) reports that the net profit of China"s 17 major automakers in the year of 2009 surged 68 percent year-on-year. Those major automakers made more than 90 percent of autos in China. CAAM says that the year"s profit at last year hit 224.1 billion yuan ($32.8 billion). Government"s serial stimulus policies is the main momentum for auto rapid development and the related positive measures will continue in this year.
CAAM also reveals that the figures of China auto production and sale in the first month of this year hit a double digit growth and the sales volume exceeded 1.6 million units. That hit a new record in China auto industry. In the year of 2009, China overtook the United States to become the top automaker and market in the world and the sales volume hit 13.64 million units. Many Chinese auto experts predict that the sales growth in the year of 2010 may exceed 15 percent.