China October auto sales rise 2.7% on new models

By BLOOMBERG

BEIJING • China’s passenger-vehicle sales rose for the sixth straight month in October, with General Motors Co (GM) and Honda Motor Co selling more models adapted for the world’s largest auto market.

Retail sales of cars, SUVs and multi-purpose vehicles increased 2.7% to 2.3 million units last month, the China Passenger Car Association (CPCA) said in a statement yesterday.

Deliveries increased 1.4% to 18.9 million units in the first 10 months of this year.

“The joint-venture brands, especially for the Japanese cars, are performing well,” said Cui Dongshu, secretary general of the CPCA, referring to car models manufactured in China with local partners.

“They are improving their competitiveness by introducing more new models from China that suit the local market, especially SUVs.”

Cui spoke before the association released the figures.

Car sales in China have picked up in recent months as automakers offered larger discounts and introduced more new products to entice customers, after the government’s increase of a sales tax at the start of the year deterred buyers.

GM’s China sales increased 10.7% in October from a year earlier to 382,723 units, led by growth in its Baojun and Cadillac brands.

Honda sold 132,807 cars in the same month, a gain of 14%, benefitting from new models including the Avancier and UR-V full-size SUVs.