China's auto sales peak in November: Group
Auto sales in China, the world`s biggest car market and crucial to manufacturers worldwide, reached a new peak in November, data from an industry group showed on Monday.
Sales reached 2.94 million units last month, up 16.6% year-on-year, the the China Association of Automobile Manufacturers (CAAM) said in a statement.
Both production and sales set a "record high" in November, the statement said.
Total auto sales in the first 11 months reached 24.9 million, CAAM data showed, exceeding the figure for the whole of 2015.
ALSO READ: China November data to show steady growth, but yuan, capital controls a worry: Reuters poll
But last month`s growth slowed from October`s 18.7% and 26.1% in September.
A tax cut for small passenger cars, as well as stabilised economic performance have boosted car sales this year.
China`s factory activity last month grew at its fastest rate in more than two years, while producer prices rose at their fastest pace for five years.
Some foreign manufacturers also saw record November deliveries, with US auto giant General Motors selling 371,740 vehicles, up 7% year-on-year, and Ford`s sales jumping 17% to 124,113 units.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
03:08 PM IST