Pursuits
China Auto Sales Gain Most in 10 Months After Tax Cut
- Car sales data reinforce better-than-estimated retail sales
- Negative impact from stocks rout fading as market rebounds
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China’s passenger-vehicle sales rose the most in 10 months after the government cut a car-purchase tax, benefiting automakers like Great Wall Motor Co. and adding to evidence that demand is rebounding in the world’s largest auto market after a summer slowdown.
Wholesale deliveries of sedans, SUVs and multipurpose vehicles climbed 13 percent to 1.94 million vehicles in October, according to the state-backed China Association of Automobile Manufacturers. Chinese carmakers outperformed the market, and boosted their share of sales by 2.1 percentage points from a year earlier.