OREANDA-NEWS. Fitch Ratings says in its latest monthly issue of China Auto Watch that the Chinese government's cuts in vehicle-purchase tax have boosted demand for small-engine passenger vehicles (PVs), with a 13.3% year-on-year (yoy) growth in overall PV sales volume in October 2015. The market share of PVs with engine sizes equal to - or smaller than - 1.6L increased to 69.0% from 65.5% in September.

All the Chinese 'Big Five' auto groups, except for FAW Group, posted strong double-digit volume growth in October. Leading joint-venture automobile manufacturers reported a yoy recovery in sales volume, driven by revived sales of sedans and/or solid SUV market growth.