Financial Times FT.com

China car sales surge on stimulus steps

SHANGHAI, Nov 9 - China’s passenger cars sales in October surged 75.8 per cent from a year earlier, official data showed, extending the explosive growth in recent months as government incentive policies continued to lure customers.

A total of 946,400 passenger cars were sold in October, up sharply from 538,500 units sold a year earlier, but slightly lower that 1.02m units sold in September, the China Association of Automobile Manufacturers said on Monday. “Autumn is usually the best auto selling season. But it is not that obvious this year as sales have been so strong all along,” said Qin Xuwen, an analyst with Orient Securities.

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