Vehicle Sales Pace in China at Three-Year Low

Deliveries of new passenger cars and light commercial vehicles in China expanded less than 6% to 14.4 million units in the first nine months of 2015—the slowest growth rate since 2012, according to the China Passenger Car Assn.

The trade group reports that sales in September expanded 3%, as a 60% jump in demand for SUVs and crossovers offset declines for sedans, MPVs and commercial vehicles.

Analysts say growth is likely to accelerate this month because of the government’s 50% cut in purchase taxes on cars powered by engines displacing 1.6 liters or less. That category generates about two-thirds of market volume, according to Bloomberg News.