China October auto sales stall as sedan demand shrinks

An business group reviews China’s auto gross sales progress fell near zero in October as demand for sedans contracted.

The China Affiliation of Vehicle Producers stated Wednesday gross sales rose by zero.four % over a yr earlier to 2.three million models, down from September’s four.1 % price. Gross sales of sedans shrank by 5.four %, offset by a thirteen.9 % achieve for SUVs.

Chinese language auto gross sales have struggled this yr after a short lived tax reduce boosted 2016 progress to fifteen %. Gross sales contracted in April and Might earlier than rising weakly in current months.

For the primary 10 months of the yr, gross sales rose simply 2.1 % over the identical interval of 2016.

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