In October, the sales and production of passenger cars witnessed fast growth on monthly basis. Comparing with the same period of last year, such figures both increased more than 8%. The market saw signs of pick-up.
        This month, the production and sales were 1,899,700 and 1,936,900 units respectively, up 17.2% and 10.6% than that of last month, and up 8.1% and 13.3% year on year.
        For the first ten months, the production and sales of passenger cars reached 16,506,000 and 16,484,700 units respectively, up 2.2% and 3.9% year on year. Their growth rates increased 0.7 percentage points and 1.1 percentage points than the first nine months.
        As for the passenger cars by type, comparing with the same period of last year, SUV continued a high-speed growth, of which the production and sales were up 46.1% and 48.4%. MPV also enjoyed a growth, with an increase of 7.7% and 7.8% in production and sales respectively. As for cars, the production and sales witnessed decline, down 10.1% and 7.9% respectively. Moreover, the situation of crossed passenger cars was even worse, of which such figures decreased by 19.6% and 20.9%.
        This month, the sales of passenger cars with engine capacity of 1.6L and below reached 1,336,200 units, up 16.3% than that of last month, 5.7 percentage points higher than the overall growth. Comparing with the same period of last year, such figure increased by 17.1%, 3.8 percentage points higher than the overall growth. This October witnessed the fastest growth of this type in this year. The sales accounted for 69% of the total sales of passenger cars this month. The market share increased 3.4 percentage points than the previous month.
        On Sep. 29th, the State Council issued a new policy that halving the purchase tax of passenger cars with engine capacity of 1.6L and below. The policy came into effect as of Oct. 1st, 2015 to Dec. 31st, 2016. The implementation of this new policy undoubtedly promoted the sales of such type this month.