75.8% Rise in Car Sales across China Reported for October
In the light of various attractive Government incentives currently being offered to consumers, car sales across China saw a 75.8% rise for the month of October. The surge in car sales is being viewed by many as another sign of the fact that the country's economy is rapidly growing.
As many as 946,400 personal cars were sold across China in October, a sharp rise compared to the figure of 538,500 recorded for the same month last year. This is, however, slightly lower than the September sales figure of 1.02 million units. The data has been confirmed by the China Association of Automobile Manufacturers.
"Autumn is usually the best auto selling season. But it is not that obvious this year as sales have been so strong all along", shared Qin Xuwen, an Orient Securities analyst.
Overall sales of vehicles also surged by 72.48% to 1.23 million in October as compared to an year earlier. Here as well, September's rise of 77.99% was higher. Among top selling manufacturers were General Motors, who saw a two times rise in sales, and Ford Motors, whose sales went up by 80% as compared to October last year.
United Kingdom News
- Tesla voids warranty if EV’s battery pack is used to power home
- France reportedly looking to relax geographical restrictions to allow smaller cities to host casinos
- BMW aims to swing back to pre-pandemic operating margin of 8-10%
- Scania reveals plans to launch full-size 40-ton capacity long-range electric truck
- Tesla’s all-electric Model Y earns 5-star score in NHTSA crash tests