Healthy growth in Oc­to­ber auto sales

China Daily (Canada) - - BUSINESS -

Auto sales in China rose in the first half of Oc­to­ber af­ter the cen­tral gov­ern­ment cut a tax on pas­sen­gerve­hi­cle pur­chases at the start of the month. Av­er­age daily re­tail sales jumped 12 per­cent from a year ear­lier dur­ing Oct 1 to Oct 16, ac­cord­ing to data from the China Pas­sen­ger Car As­so­ci­a­tion. “The ef­fect of the tax re­duc­tion has been out­stand­ing,” said Cui Dong­shu, the auto as­so­ci­a­tion’s sec­re­tary gen­eral. “We ex­pect the gains to be sus­tained for the rest of the month.”

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