Mubasher: Car sales in China rose for the fourth consecutive month in September.
The Chinese auto market saw sales of 2.71 million vehicles last month, rising by 5.7% year-on-year, and nearing its 5% growth target for 2017, data released by the government-backed China Association of Automobile Manufacturers on Thursday showed.
In recent months, China’s auto industry saw sales increases ranging between 4% and 6%.
In the first nine months of 2017, China, the world’s largest auto market, rose by 4.5%, weighed down slightly by an increase imposed earlier in 2017 in the country’s auto-sales tax.
In September, the China Association of Automobile Manufacturers said that this year’s 5% growth target was looking like an "idealistic goal", according to MarketWatch; however, growth by around or above 5% in recent months “may now have put the target within reach”.
