Passenger-vehicle sales in China rose 13 percent last month, led by General Motors Co. and Ford Motor Co. as foreign carmakers continued to gain share from local brands in the world’s largest auto market.
The Chinese billionaire who bought Fisker Automotive Holdings Inc. at a bankruptcy auction is planning to build a new slate of electric-drive cars in the U.S., challenging Tesla Motors Inc. on its home turf.
Passenger-vehicle sales in China rose 13 percent last month as consumers brought forward purchases in anticipation more cities will implement ownership restrictions to fight pollution and congestion, according to an industry group.
China may exempt electric-car buyers from paying purchase taxes as part of expanded state measures to bolster sales of such vehicles after past incentives failed to spur demand, Vice Premier Ma Kai said.
BYD Co., the Warren Buffett-backed Chinese auto-and-battery maker, is seeking to increase overseas sales of its electric bus as billionaire founder Wang Chuanfu predicts a “second takeoff” for the company this year.