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Growth in demand for passenger and commercial vehicles in China, which soared 126 percent in January, slowed to a mere 46 percent and 1.2 million units last month, according to the China Assn. of Automobile Manufacturers. Passenger vehicle demand, which surged 116 percent in January, increased 55 percent in February to 942,900 units. Analysts say the timing of the weeklong Lunar New Year holiday, which fell in February this year and January in 2009, skewed comparisons. Demand for vehicles made by the Chinese joint ventures of General Motors and Ford jumped 51 percent to 174,300 units and 38 percent to 18,200 units, respectively. Full-year vehicle sales in China increased 46 percent last year to 13.6 million units. CAAM expects growth to moderate to 15 percent this year as the government reduces scrappage incentives and tax breaks for car buyers.
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