News Summary: China Dec. auto sales accelerate

News Summary: China's 2012 auto sales up by 7.1 percent with strong Dec. sales

Associated Press

NICE RIDE: China's auto sales rose 7.1 percent in 2012 after growth accelerated in December and an economic recovery began to gain traction.

CAR NATION: Sales in the world's biggest market by number of vehicles sold totaled 15.5 million units, the China Association of Auto Manufacturers said. December sales rose 6.9 percent to 1.46 million vehicles.

WHEELS FOR THE MASSES: The government is promoting auto manufacturing and ownership and has tried to encourage sales of smaller, more fuel-efficient cars. General Motors Co., Nissan Motor Co. and Daimler AG's Mercedes-Benz have launched lower-priced brands for the vast but poor rural market.

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