Global Automakers Report Accelerated China Sales in September
S. Rina | | Oct 12, 2016 09:41 AM EDT |
(Photo : ChipSomodevilla/GettyImages) Nissan and Honda reported their strongest monthly sales growth in the month of September.
China auto market showed a rebound as major global automakers reported higher sales for the month of September.
China is the world's largest auto market and has grown steadily since last year's announcement of sales tax cut on small engine vehicles.
Nissan and Honda reported their strongest monthly sales growth in the month of September.
Like Us on Facebook
Honda's sales volume, on the other hand, has quadrupled for its Elysion multi-purpose vehicle and Civic sedan model. The automaker also reported double-digit growth rate for Vezel and XR-V sports utility vehicles. The company's spokesperson further disclosed that the new models they have launched received wider approval from the market.
Meanwhile, Ford reported its strongest growth rate since January, as it shared encouraging increase in is SUV sales since Chinese customers have chosen to upgrade their cars, while Japanese carmaker Toyota has had its highest sales growth rate since March.
The Chinese government announced the sales tax cut for cars with engines of 1.6 liters or smaller in October last year - a move that has pushed the car sales in the country further.
It is expected that the momentum will continue until the sales tax relief expires at the end of the year. It is likely that more consumers will buy cars in the fourth quarter to avail of the tax cut.
The China Association of Automobile Manufacturers (CAAM) is scheduled to release its report on Wednesday.
In its report last month, the association revealed an 11.4 percent sales growth from January until August.
The market expects to hit an annual growth rate of six percent in car sales in China this year.
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?