Sales of General Motors passenger cars in China rose by 4.3%, reaching a record 285,191 vehicles.
Overall, passenger car sales in the country grew by 2.3% in June, totaling 1,832,000 units. According to the China Association of Automobile Manufacturers (CAAM), in the first six months of 2017, the Chinese automobile market grew by 1.6%, reaching 11,253,000 vehicles, and remained the largest in the world.
It is worth recalling that due to falling demand, the Chinese government halved the tax on the purchase of new cars with engines up to 1.6 liters from October 2015, and this benefit was in effect until the end of 2016. With the arrival of 2017, the rate increased from 5% to 7.5%. In addition, demand is supported by the ongoing migration of the population to large cities. At the same time, sales growth may be hampered by measures of megacity authorities that restrict the registration of new cars to combat traffic jams and air pollution.
