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Chinese consumers take credit for car loans boom

Nearly 30% of Chinese car buyers bought on credit last year, up from 18% in 2013, say analysts

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China's car market struggled last year, thanks to the slowest economic growth in 25 years and a stock market rout, but rebounded in October when the government cut sales tax on smaller cars.

Beijing

CHINESE households, traditional savers with an aversion to debt, are rapidly warming to the idea of borrowing to buy a car, as carmakers push financing deals to boost sales and margins in an increasingly competitive market.

Nearly 30 per cent of Chinese car buyers bought on