Passenger car sales reverse downturn
Print Edition
China鈥檚 passenger car sales reversed a downturn with a double-digit growth in the first half of October, lifted by vehicle purchase tax cuts which were effective from the start of this month, according to data released by the China Passenger Car Association yesterday.
From October 1 to 16, retail deliveries of sedans, sport-utility vehicles and multi-purpose vehicles grew 12 percent from the same period of last year, while wholesale deliveries rose 13 percent. The sales outperformed those in the first half of September which saw a 3 percent drop from a year earlier, despite it traditionally being the start of China鈥檚 car shopping season.
鈥淭he improving year-on-year performance shows the market is getting strong,鈥 said the association.
The turning point came after the State Council announced a reduction in the purchase tax by 50 percent on vehicles whose engine displacement was less than 1.6 liters from October 1, the biggest boost to market sentiment after industry-wide discounts failed to drive sales.
The tax cuts, equal to 5 percent of retail prices excluding the value-added tax, will benefit 65-70 percent of the passenger car market and help to unlock hundreds of billions yuan worth of sales, Cui Dongshu, secretary-general of the association, said earlier.
Reflecting the increasing confidence of carmakers and dealers, supplies accelerated to reach a five-year high, according to the association.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
