Vehicle sales advance 24% in Nov. on small-car tax break
China's light-vehicle deliveries rose 24 percent year on year to nearly 2.2 million vehicles in November, as buyers took advantage of the lower purchase tax on small cars.
Last month, sales of vehicles eligible for the tax cut totaled 1.56 million vehicles, up 29 percent, according to the China Association of Automobile Manufacturers.
The tax cut further fueled the market's growing demand for compact crossovers. As a result, combined sales of SUVs and crossovers soared 72 percent from a year earlier to 716,200 units.
Sedan sales rose 9.1 percent to top 1.17 million vehicles while MPV deliveries increased 8.8 percent to 218,400 units.
Because of the tax incentive, microvan sales also rebounded for the first time in the past two years, rising 7 percent year on year to 91,600 units.
Due to weak summer sales, China's light vehicle sales through November increased 5.9 percent to 18.7 million units.
The tax cut further fueled the market's growing demand for compact crossovers. As a result, combined sales of SUVs and crossovers soared 72 percent from a year earlier to 716,200 units.
Sedan sales rose 9.1 percent to top 1.17 million vehicles while MPV deliveries increased 8.8 percent to 218,400 units.
Because of the tax incentive, microvan sales also rebounded for the first time in the past two years, rising 7 percent year on year to 91,600 units.
Due to weak summer sales, China's light vehicle sales through November increased 5.9 percent to 18.7 million units.
