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China Auto Sales Post Massive October Rebound

Auto sales rise 13.3% after government tax cut.

by on Nov.11, 2015

Auto sales in China were up 13.3% in October: the biggest year-over-year sales increase of 2015.

After months of reports about the slowing of auto sales in China, the country followed the lead of the U.S. enjoying a huge rush of October sales and netting a 13.3% increase over year-ago figures.

The jump to 1.9 million units comes after the government introduced cut in the sales tax on vehicles with engines with displacement of 1.6 liters and smaller to 5%, which is half of what it had been, according to the China Association of Automobile Manufacturers.

A Global Perspective!

The big driver of sales last month, much like in the U.S., was sport-utilities. Sales were up 60.6% to just more than 622,000 vehicles. Sedan sales were up slightly – 0.2% – to just over 1 million units. (more…)