China sales accelerate for global automakers in September

BEIJING Honda (7267.T) and Nissan (7201.T) reported on Tuesday their strongest monthly vehicles sales growth for China this year in September, thanks to a tax cut on small engine vehicles and comparatively weak growth for the same month last year.

Competitor Ford (F.N) posted its strongest growth since January, while Toyota (7203.T) sales increased the fastest since March.

The Chinese auto market, the world’s largest, has rebounded strongly since October last year when the central government cut sales tax on vehicles with engines of 1.6 liters or smaller in response to slower sales in the weakening economy.

That tax cut will continue to drive strong growth as consumers rush to buy cars before its planned expiry at the end of the year, according to analysts and industry officials.

“This will be a pretty big stimulus for Q4,” said Yale Zhang, managing director of consultancy Automotive…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *