China Auto Sales Increase 29% as Demand Thins Dealer Inventory
- Carmakers await government decision on extending tax cut
- Sales may plunge next year if tax cut expires, automakers say
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Passenger-vehicle sales surged 29 percent in China last month, led by small-car makers Geely Automobile Holdings Ltd. and Mazda Motor Corp., as consumers seeking to beat an expiring tax cut helped clear inventory on dealer lots.
Deliveries of sedans, minivans, sport utility and multipurpose vehicles to dealerships rose to 2.27 million units in September, the state-backed China Association of Automobile Manufacturers said Wednesday.