China car sales rose by 16% in November from a year earlier, Bloomberg reported, citing official data. According to the China Association of Automobile Manufactures, wholesale deliveries of cars, multipurpose and sport utility vehicles climbed to 1.7 million units in November. Despite ongoing political tensions between China and Japan, Toyota Motor (TM.NYSE, 7203.TYO), Nissan Motor (7201.TYO) and Honda Motor (HMC.NYSE, HNDA.LON, 7267.TYO) saw sales surge for a third-straight month.“The Japanese have been introducing more new models, especially lower-priced ones, which has made them very competitive,” said Harry Chen, a Shenzhen-based analyst at Guotai Junan Securities.
Categories