GM’s China sales at record monthly high
Print Edition
GENERAL Motors Co said its vehicle sales in China rose 15 percent to a record monthly high in October, underpinned by the Chinese government’s decision to cut taxes for smaller cars.
The company said sales in the first 10 months of 2015 climbed 2.9 percent from a year earlier to 2.8 million units, also a record.
The result shone a bright light for China’s auto market which has struggled due to an economic slowdown in the world’s second-largest economy.
“The recently announced government incentive for vehicle purchases helped boost buying sentiment starting in October,” Matt Tsien, GM’s China president, said in a press release yesterday.
China has unveiled supportive policies, including halving the sales tax to 5 percent on cars with 1.6-liter engines or smaller, to boost auto sales. The changes came into effect on October 1.
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