2017 CHINA MARKET OVERVIEW – AUTOMOBILE
In 2016, China’s automobile market apparent consumption increased with rebounding growth rate.Affected by factors such as purchase tax preferential policies, China’s auto production and sales volume also broke records in 2016, ranking first in the world for eight consecutive years.
Among the four types of current domestic passenger cars, Chinese consumers particularly preferred SUV. The Ministry of Finance’s policy to reduce passenger vehicle purchases tax of 1.6 liters or less has also boosted sales of this type of passenger cars.
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