China’s vehicle sales up
China's Association of Automobile Manufacturers disclosed that the country's overall vehicle sales jumped 33 percent year on year in September as price cuts helped spur demand.
After slowing earlier in the year, sales have rebounded in most vehicle categories, with purchases of passenger cars rising 36 percent year on year to 254'500 units in September. Sales of multipurpose vehicles, such as minivans, jumped 89 percent to 13'800 units and sales of sport utility vehicles rose 56 percent to 20'700 units.
Overall vehicle sales rose 16.8 percent year on year to 2.8 million units in the first three quarters of this year.
Buyers are tending to opt for smaller cars due to higher fuel prices.