Car Sales Soar 20% in China

Retail sales of passenger vehicles in China zoomed 20% to 2.42 million last month, according to the China Automobile Dealers Assn.

CADA says volume was driven by the government’s tax break on cars with small engines, coupled with strong demand for SUVs and crossover vehicles. Beijing hasn't announced whether the tax discount will continue into 2017.

Volume totaled 21.1 million cars in the first 11 months, surpassing the full-year total of 20.6 million units delivered in 2015. That means China’s car market has expanded without interruption for 26 years.