China first-quarter car sales are strongest since 2014

China first-quarter car sales are strongest since 2014

China car sales ascended 7% during the first quarter, as China's automakers association revealed on Tuesday. The strongest January-March period since 2014 set up the world's largest car market for a better-than-expected year.

Many in the industry had worried that sales would be poor during the first three months after the government dared to roll back a tax cut on small engine cars on January 1, thus adding to hopes for a slowdown in 2017 sales.

However, first-quarter surge outpaced the China Association of Automobile Manufacturer's forecast in January that car sales would inch up 5% in 2017, and the market is supposed to keep improving as the year progresses.

In March, car sales grew 4% year-on-year, hitting 2.5 million cars, as CAAM informed reporters in Beijing.

Besides this, the purchase tax for vehicles with engines of 1.6 liters or below soared to 7.5% this year from 5% last year after the government stepped in to prevent sales from dropping. The tax will surge to the normal 10% rate in 2018. 



Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera