China Auto Sales Surge 7% On Tax Cuts, Holiday Shopping

China’s car sales reportedly rose 9.3 percent in January as demand increased around the Lunar New Year holiday season and a tax break boosted orders for small passenger cars.

Sales of passenger vehicles, including sedans, sport-utility vehicles and minivans, rose to 2.23 million vehicles in January, China Association of Automobile Manufacturers (CAAM), a state-backed industry body, reportedly said Friday. Total vehicle sales, including trucks and buses, rose 7.7 percent to 2.5 million during the same period.