China auto sales grow at year's strongest rate after tax cut
BEIJING (AP) — China's auto sales accelerated to their strongest growth this year in October following a sales tax cut.
An industry group, the China Association of Automobile Manufacturers, said Wednesday purchases of sedans, SUVs and minivans in the biggest market by number of vehicles sold rose 13.3 percent to 1.9 million.
That was up from September's 3.3 percent growth, which followed three months of contracting sales.
Growth accelerated after Beijing cut the sales tax on smaller vehicles by half in September to 5 percent.
Total vehicle sales, including trucks and buses, rose 11.8 percent to 2.2 million units.