In China’s auto industry the phrase "Golden September – silver October" is often used because that is when automotive sales peak.
This year it happened with a vengeance, with 1.5 million light vehicles delivered in October, equivalent to the September figure, and 27% higher than the year before.
Passenger vehicle sales grew 31% to 1.1 million units, while light commercial vehicle sales increased 20% to 435,000 units.
The seasonally adjusted annual rate (SAAR) shot up to a record 19.2 million units in October, which is the first time China has gone past the 19 million-unit mark.
English People’s Daily Online reports the market has clearly reversed from a weakening trend in the first half of this year, making a sharp rebound from this year’s SAAR trough of 15.5 million units in April.
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