CHINA VEHICLE SALES RISE 7.7% AS TAX CUT BOOSTS DEMAND FOR CARS

Published:2016-03-04

 

China’s vehicle sales rose 7.7 percent last month as demand was spurred by a cut in tax on purchase of small passenger cars and ahead of the Lunar New Year. Wholesale deliveries of passenger and commercial vehicles climbed to 2.5 million units in January, according to the state-backed China Association of Automobile Manufacturers. Passenger vehicle sales rose 9.3 percent to 2.23 million units, while commercial vehicle sales declined 3.4 percent to 303,600 units, it said.

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