China Auto Sales Rise 24.5% on Rush to Beat Expiring Tax Cut
- Passenger-vehicle sales rose to 1.8 million units last month
- Industrywide deliveries rose 13% in year’s first eight months
Auto sales in China fell 0.5% year-over-year in April to 1.99 million vehicles, the worst growth since February 2013. PHOTOGRAPH BY Feature China / Barcroft Media (Photo credit should read Feature China / Barcroft Media via Getty Images)
Photographer: Barcroft Media via Getty ImagesChina’s passenger-vehicle sales climbed for a sixth consecutive month as consumers rushed to buy ahead of a tax cut due to expire at year-end and General Motors Co. and Great Wall Motor Co. emerged from stiff pricing competition with rising deliveries.
Retail sales of cars, sport utility and multipurpose vehicles increased 24.5 percent to 1.8 million units in August, the China Passenger Car Association said Thursday. Deliveries climbed 13 percent to 14.2 million units through the first eight months of this year.