Tax cut revs up ve­hi­cle sales

The Star Early Edition - - INTERNATIONAL -

CON­SUMERS in China bought pas­sen­ger ve­hi­cles at the fastest pace in three years to take ad­van­tage of a tax cut on small-en­gine ve­hi­cles, boost­ing de­liv­er­ies of car mak­ers from Gen­eral Mo­tors to the Great Wall Mo­tor Com­pany. Deal­er­ships sold 23.9 mil­lion cars, sports util­ity and mul­tipur­pose ve­hi­cles last year, cap­ping a 15.9 per­cent gain, ac­cord­ing to data re­leased yes­ter­day by the China Pas­sen­ger Car As­so­ci­a­tion. The gov­ern­ment had halved a 10 per­cent sales levy to jump-start de­mand, lead­ing to the big­gest rate of in­crease since 2013. – Bloomberg

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