Light-vehicle sales advance in August behind crossovers, SUVs
Light-vehicle sales in China increased 4.1 percent from a year earlier to nearly 1.88 million in August behind demand for crossovers and SUVs.
It was the third consecutive month the market has grown after taking a beating from an increase in the sales tax on small vehicles at the beginning of the year.
Last month, deliveries of crossovers and SUVs totalled roughly 773,800 vehicles, a jump of 18 percent year on year, according to the China Association of Automobile Manufacturers.
Sedan sales inched up 1.6 percent to around 933,000 after declining for eight months in a row.
But the multipurpose vehicle and microvan markets remain weak.
MPV deliveries slumped 23 percent to approximately 138,100 while microvan sales contracted 32 percent to only 30,300.
China’s light-vehicle deliveries have increased 2.2 percent year on year to 14.8 million vehicles through August.
In January, the Chinese government raised the sales tax on vehicles with engine sizes of up to 1.6 liters to 7.5 percent, from 5 percent in 2016. The tax is due to be restored to its normal rate of 10 percent in January 2017.
It was the third consecutive month the market has grown after taking a beating from an increase in the sales tax on small vehicles at the beginning of the year.
Last month, deliveries of crossovers and SUVs totalled roughly 773,800 vehicles, a jump of 18 percent year on year, according to the China Association of Automobile Manufacturers.
Sedan sales inched up 1.6 percent to around 933,000 after declining for eight months in a row.
But the multipurpose vehicle and microvan markets remain weak.
MPV deliveries slumped 23 percent to approximately 138,100 while microvan sales contracted 32 percent to only 30,300.
China’s light-vehicle deliveries have increased 2.2 percent year on year to 14.8 million vehicles through August.
In January, the Chinese government raised the sales tax on vehicles with engine sizes of up to 1.6 liters to 7.5 percent, from 5 percent in 2016. The tax is due to be restored to its normal rate of 10 percent in January 2017.
