Car sales in China fell 1.1 percent in October from a year earlier to 1.52 million units, an industry group said Wednesday, marking the first drop in five months. The fall was due to a sharp fall in commercial vehicle sales last month - up 9.9 percent over the previous year - the China Association of Automobile Manufacturers (CAAM) said in a statement.
Sales of passenger vehicles - representing the bulk of sales in the largest car market in the world - rose an anemic 1.4 percent year on year to 1.22 million units, the semi-official group. Month to month, sales of passenger cars fell 7.5 percent, he said.
Total sales exceeded 15 million units in the first 10 months of the year, the CAAM said, without providing an exact figure. Car sales in the country rose more than 32 percent last year to a record 18. 06 million units, but the sector has lost steam after Beijing removed the sales incentives such as tax breaks for small car engines.
Source: http://indiancarz.com/YaBB.pl?num=1321627018
Sales of passenger vehicles - representing the bulk of sales in the largest car market in the world - rose an anemic 1.4 percent year on year to 1.22 million units, the semi-official group. Month to month, sales of passenger cars fell 7.5 percent, he said.
Total sales exceeded 15 million units in the first 10 months of the year, the CAAM said, without providing an exact figure. Car sales in the country rose more than 32 percent last year to a record 18. 06 million units, but the sector has lost steam after Beijing removed the sales incentives such as tax breaks for small car engines.
Source: http://indiancarz.com/YaBB.pl?num=1321627018
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