Auto sales are hurting in China, too. Passenger car sales dropped 1.44% year-on-year from September of last year.

The blame -

1. higher gas prices.

September and October are historically China’s two best months for car sales.

2. global credit crisis

3. inflation

4. sinking consumer confidence

are also at fault say some analysts.

Frankly, whether I don’t know what me getting a credit card has to do with Chinese wanting to buy a card, but there’s bound to be a connection someplace.

August was also down 6.24% over last year.

China Association of Automobile Manufacturers (CAAM) also wants to blame

6. the readjusted vehicle purchase tax.

So, why aren’t small cars selling? The tax on cars with one liter engines or less saw their taxes fell from 3% to 1%. Market share is still a mere 7.67% for small cars.

Maybe, Chinese just want gas hogs. And if they can’t afford them, they’ll wait till the can, or be like America and borrow for what they can’t afford…if they can get the credit.

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