China sold more cars in January than the U.S.

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For the first time in history China sold more cars in January 2009 than U.S. Poor economy has had a huge impact on the U.S. car sales while Chinese are still enjoying steady growth.

In January American car sales were a total of 656,976 units, while the Chinese market managed to sell 735,000 new units.

Car sales in China fell by 14.4% compared to the January 2008, when a record 860,000 cars were sold. January sales were also 0.8% lower than December sales.

U.S. auto sales fell 18% last year to 13.2 million. China sales increased 6.7% to 9.38 million. Sales in China may grow 5% this year making it the slowest pace since 1998.

If the decline in the U.S. continues China will very likely become the biggest car market this year.

Source: Bloomberg picture by AtWater