Eversheds Sutherland Up to Speed Blog
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Tax Cut Propels Auto Sales in China

Sales of passenger vehicles have surged to a ten-month high in China following the cut of a car-purchasing tax. Following a summer slowdown, auto sales climbed 13 percent in October to 1.94 million vehicles. The rebound, coming ten months after the elimination of the tax benefiting auto manufacturers, also follows the trend of increased consumer spending in China. Total vehicle sales...

Auto Loans At All Time High

The amount borrowed by Americans to pay for vehicle purchases climbed to a record high of $968 billion in the third quarter.  Higher vehicle prices and an increase in auto sales, up 5.8 percent from a year ago, have driven increased borrowing. The majority of money borrowed, 61.3 percent, is by drivers with prime or super prime credit ratings. Borrowing by drivers with shaky credit,...

U.S. Auto Manufacturers Report Best Sales in a Decade

The major American auto manufacturers reported double-digit increases in sales in the month of October. The increased sales, approaching 1.46 million vehicles, is a 13.6 percent increase from the same period a year ago, and accounts for the best October sales in ten years. Sport Utility Vehicles and Pick-up trucks drove sales, as low financing and cheap gasoline made these vehicles...