Boon or bane? China has overtaken the United States in terms of car sales when the country snapped up 790,000 vehicles last January compared to the United State’s 656,976 vehicles. Is this a real indication that China’s domestic consumption is strengthening? Just before Luna New Year, China cut car purchase taxes by half. Its auto industry expects the government’s policy stimulus to make the year of the ox a good one for sales growth. To see the chart, click here.
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