China car sales top U.S.

China's auto sales surged past the United States to reach record levels in 2009, industry figures showed on Monday, underscoring China's importance to the global auto industry as the world's biggest market.

The figures came as PSA Peugeot Citroen of France said markets were expected to show signs of recovery around the world in 2010, while Volkswagen AG said it aims to at least double its U.S. sales in coming years.

After a year in which Chinese automakers made key acquisitions abroad, Beijing's renewed incentives to bolster demand will likely keep it as a bright spot for car makers battered by the financial crisis. (more)