October vehicle sales in China fell 4.2% from year-ago to 1,111,263 units as the government restricts subsidies for purchases of fuel-efficient vehicles. The China Passenger Car Assn. says the result was the steepest monthly decline since 2008 and was down 12.9% from September. The sales retreat came after the Ministry of Finance revamped its 2-year-old subsidy policy for fuel-saving vehicles, making more than 70% of the original 427 models ineligible for assistance after Oct. 1. “The ...
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