RPT-UPDATE 1-China's Oct car sales rise 8.37 pct on yr - data

SHANGHAI, Nov 6 (Reuters) - China's annual passenger car sales grew in October after falling for two straight months, official data showed on Thursday, but analysts doubt it means a solid rebound as consumption slows along with economic growth. A total of 538,500 cars were sold in October, up 8.37 percent from a year earlier, the China Association of Automobile Manufacturers said. The rebound comes after car sales fell 1.44 percent in September and 6.24 percent in August, rare declines in the world's fastest growing major market as natural disasters, the Olympics and a slowing economy kept buyers from showrooms. "That is by no means a sign of market recovery," said Chen Qiaoning, an industry analyst with ABN AMRO TEDA Fund Management. "Eight percent is nothing compared to explosive growth in the past years." The prospect of a major recovery is slim due to the uncertainties facing the country's economy, other analysts said. Car sales in China totalled 5.64 million from January to October, up 11.07 percent from a year earlier, the association said. Growth in the past three years had exceeded 20 percent. (Reporting by Fang Yan, Editing by Jacqueline Wong) Keywords: CHINA CAR/SALES ([e-mail]; Reuters Messaging: [e-mail]; [phone]) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved.

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