HEFEI - Chery Automobile, China's largest automobile exporter, said Tuesday its global monthly sales reached a record high of 86,299 vehicles, an increase of 17.52 percent over the same month last year.

Of the total number of units sold, 10,505 were bought overseas, more than doubling the sales in January last year, said Jin Yibo, the company's spokesman.

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Jin added that January sales figures were very good. Chery believes that market growth would remain stable in 2011.

The record sales are attributed to two key factors: the fact that the period prior to the Chinese New Year is traditionally a strong season for auto sales, and the discontinuation of preferential government taxation policies toward small displacement cars, said the spokesman.

Many buyers rushed to purchase vehicles before the policy was canceled, while many car dealerships purchased cars to fill out their empty warehouses in January.

Chery Automobile Co, Ltd was founded in 1997 in Wuhu of Anhui province.