World’s Largest Car Market Ready for Pile Up - WSJ: "The world’s largest car market is enjoying quite a streak of good sales. It could be about to hit a wall.
China’s passenger-car sales rose 17% in November to another record-high. It’s made China the fastest-growing market again both for local and foreign makers. But the strong demand may be less about a love for cars, and more a love for deals. A tax cut on car purchases is set to expire in December. The impending end of the tax has brought forward months of demand and consumers aren’t taking chances, locking in deals.
Last October, China slashed the purchase tax on cars with small engines in half to 5%. It was a tonic for the market, which was slumping. Auto makers began posting record sales and continue to do so."
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