Chinese auto sales continue to rise on robust demand
Beijing, Nov 9 (IANS) China’s auto sales rose 72 percent to 1.22 million units year on year in October due to strong domestic demand boosted by government stimulus measures.
The figure was the second highest within the year and 7.64 percent lower than that of September, the China Association of Automobile Manufacturers (CAAM) said on its website Monday.
Auto sales broke the 10 million mark to 10.89 million units between January and October, up 36.23 percent from a year ago, Xinhua reported.
In January, China cut the purchase tax on vehicles with engines of 1.6 liters or less from 10 percent to five percent to promote the sales of energy-saving vehicles.
It also offered subsidies for auto buyers in rural areas.
Passenger car sales surged 76 percent to 946,400 units in October, bringing the total sales to 8.19 million units in the first 10 months.
The CAAM predicted the sales would continue to rise steadily in the next two months.
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