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China's passenger vehicle market continued to expand in October with an increase in retail and wholesale sales, industrial data showed Tuesday.
Retail sales of passenger cars reached 1.84 million in October, up 7.3 percent year on year, but 4.3 percent lower than in September, according to the China Passenger Car Association.
Last month, sales of new energy passenger cars surged 75.2 percent over last year to 556,000 units, but 9 percent lower than the number sold in September, the data showed.
Wholesale sales of passenger cars topped 2.19 million units last month, up 11 percent year on year.
Passenger car exports reached 270,000 units in October, a surge of 42 percent from a year earlier, the car association said.
China's policy to cut car purchase tax has contributed greatly to the increase in sales, the association added, citing other favorable factors such as improvements in logistics and supply chain as well as abundant inventory.
(Source: Xinhua with edits)
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Disinformation report hotline: 010-85061466