According to the figures released by the China Association of Automobile Manufacturers (CAAM), the domestic auto market continued its robust growth in November, with car sales exceeding 1.35 million units, again recording a monthly historical high. From January to November inclusive, China's car sales came to over 12.2 million units, with annual sales expected to reach 13.5 million units.
With China having halved its purchase tax on cars with engine capacities below 1.6 liters to five percent up to the end of the current year, domestic car sales have shot up, resulting in the record sales figure for November. Affected by the global financial crisis, China's auto sales in November last year had amounted to only 685,100 units; in comparison, the figure of 1.35 million units in November this year represents an increase of almost 100 percent.