China Auto Sales Rising Most in 17 Months Spurs Inventory Relief
- Passenger-vehicle sales rose 23% to 1.6 million units in July
- Inventory index at 11-month low, dealers association says
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China’s passenger-vehicle sales accelerated the most in 17 months, as General Motors Co. and Guangzhou Automobile Group Co. boosted deliveries and dealers offering discounts helped clear inventories in the world’s biggest auto market.
Retail sales of cars, sport utility and multipurpose vehicles climbed 23 percent to 1.6 million units in July, the biggest monthly percentage gain since February 2015, according to the China Passenger Car Association. Deliveries increased to 12.4 million units in the seven months through July.