Record vehicle sales for GM in China

gm-china-sales-recordVehicle sales in China rose 15 percent to a record monthly high in October for General Motors Co (GM.N), supported by the Chinese government’s choice to cut duties for smaller cars. The organization said retail sales in the initial 10 months of 2015 climbed 2.9 percent from a year prior to 2.8 million units, additionally a record.

The outcome gives a brilliant spot to China’s auto marketplace which has battled because of an economic stoppage in the second leading economy in the world. “The government incentive for vehicle buys supported purchasing sentiment in October,” Matt Tsien, GM’s China President said in an official statement released by the organization.

China has presented a many different strong policies, including reducing the sales tax to 5 percent on autos with 1.6-liter engines or smaller, to support vehicle sales. The progressions became effective from Oct 1. Other major worldwide automakers, including Japanese car maker Honda additionally posted twofold digit deals a month ago. Autos in the 1.6 liter and under classification represent almost 70 percent of aggregate sales in the nation.