China passenger car sales near two-year high

ERJ staff report (LMH)

London - Sales of passenger cars in China rose to the highest level in almost two years as car dealers increased discounts and consumer confidence improved with the economy, according to a report from Bloomberg.

Wholesale deliveries, including multipurpose and sport utility vehicles, were up 8.75 percent to 1.46 million units in November, Bloomberg reported the China Association of Automobile Manufacturers as saying.

Sales last month were the highest since March of this year, and production continued to grow for a third month. Total sales of vehicles, including trucks and buses, rose 8.2 percent to 1.79 million units.

SUV sales continued to expand, totalling 189 200 units, an 18-percent increase. In the year to November, SUV sales soared by 26 percent to 1.79 million units compared with a 7.1-percent rise in passenger car sales, totalling 14 million, Bloomberg said.

Commercial vehicle sales were up 5.6 percent, reaching 329 700 units in November. Total vehicle sales fell by 2.8 percent in November from the prior month to 777 500 units.

Passenger vehicle sales are expected to rise by about 10 percent next year, Bloomberg said.