Car Sales Up 8% in China

Deliveries of passenger vehicles in China grew 8% to 1.9 million units in March, according to the China Passenger Car Assn.

Volume in the first quarter of 2016 rose 7% to 5.64 million units. Results for the three-month period were led by strong gains for Ford (+14% to 314,500 units) and Toyota (+28% to 291,000). Deliveries by General Motors and Nissan ventures were unchanged at 963,700 units and 298,600 units, respectively.

Analysts attribute much of the sales growth to 50% government cuts in sales taxes for cars with small engines. The reductions went into effect last October.