Citing China Passenger Car Association figures, mind the government-published China Daily said sales of passenger vehicles in China, the world’s largest auto market, rose by 14.9% in November to 1.63 million units.
The November sales figures cover passenger cars, sport utility vehicles, minivans and multipurpose vehicles. The news puts the industry on track for a full-year increase in 2013 compared with last year, when sales rose by only 4.3%. In 2011, sales eked out an even smaller 2.5% gain.
Foreign businesses such as GM and Ford have done well, too. Ford just on Thursday said sales in November rose by 47% from a year earlier to 840,975 car, not including its nearly unveiled Mustang. Ford’s China gains have helped to fuel a nearly 50% gain in its stock price this year.
Also, shares in China MeiDong, the country’s No. 5 auto dealer, rebounded in Hong Kong on Friday after dropping 4.4% on their first day of trading on Thursday.