BEIJING (AP) – China’s auto sales rose 20.3 percent in October from a year earlier, propelled by surging demand for sport utility vehicles, an industry group reported Thursday.
Dealers sold 2.3 million cars, minivans and SUVs in the world’s biggest auto market, according to the China Association of Automobile Manufacturers. Total vehicle sales including trucks and buses climbed 18.6 percent to 2.6 million units.
Sales growth plunged last year, slamming global brands that look to China to drive revenue. They rebounded after Beijing suspended a sales tax, though growth is expected to drop back to single digits after the tax cut expires at the end of the year.
Strong demand in lower-priced market segments has helped Chinese automakers recover market share from bigger, richer global rivals.
October’s SUV sales rose 43.3 percent over a year earlier to 896,000 units. Sales of Chinese-brand SUVs increased 60.4 percent to 557,000, expanding the Chinese share of that market by 6.6 percentage points to 62.2 percent.
