China auto sales peak in November

[SHANGHAI] Auto sales in China, the world's biggest car market and crucial to manufacturers worldwide, reached a new peak in November, data from an industry group showed Monday.

Sales reached 2.94 million units last month, up 16.6 per cent year-on-year, the the China Association of Automobile Manufacturers (Caam) said in a statement.

Both production and sales set a "record high" in November, the statement said.

Total auto sales in the first 11 months reached 24.9 million, Caam data showed, exceeding the figure for the whole of 2015.

But last month's growth slowed from October's 18.7 per cent and 26.1 per cent in September.

A tax cut for small passenger cars, as well as stabilised economic performance have boosted car sales this year.

China's factory activity last month grew at its fastest rate in more than two years, while producer prices rose at their fastest pace for five years.

Some foreign manufacturers also saw record November deliveries, with US auto giant General Motors selling 371,740 vehicles, up seven per cent year-on-year, and Ford's sales jumping 17 per cent to 124,113 units.

AFP