Vehicle Shipments in China Climb 19%
Factory shipments of passenger and commercial vehicles from plants in China grew 19% to 2.65 million units in October, the government-backed China Assn. of Automobile Manufacturers reports.
Factory shipments of passenger and commercial vehicles from plants in China grew 19% to 2.65 million units in October, the government-backed China Assn. of Automobile Manufacturers reports.
CAAM says car sales climbed 20% to 2.3 million units, and demand for commercial vehicles rose 7% to 305,800 trucks and buses. The group’s figures indicate wholesale volumes, including exports.
Earlier this week China’s car dealer group, the China Passenger Car Assn., reported that retail car sales in October gained 20% to 2.2 million units.
Volume is being driven in part by consumer fears that the government will end a tax break in January on vehicles powered by engines smaller than 1.6 liters.