China set world record in car sales during 2013

China has become the first country to sell more than 20 million cars, leaving behind the United States which sold 15.6 million vehicles last year.

According to CBS news, the China Association of Automobile Manufacturers says the 2013 sales figures are a 14 percent increase over 2012's data. And a new report from IHS Automotive expects passenger vehicle sales in the People's Republic to rise further in 2014, as global and domestic automakers vie for the lucrative national market.

Ford (F) Focus was the top-selling passenger vehicle in China last year, followed by Volkswagen Lavida and Buick Excelle, produced by General Motors (GM)

Volkswagen, however, claims the title of top brand in China by volume sales last year.

South Korea's Hyundai was next in sales, followed by Japanese automakers Toyota (TM) and Nissan, with GM in fifth position.