Passenger car sales for November in the world's two fastest growing emerging markets, India and China, provided a further sign that momentum in the auto industry is shifting to Asia.
China car sales nearly doubled during the month against a year earlier, while in India sales rose 61 per cent on the back of a rebounding economy and a recovery in the auto finance market.
The robust growth in the two markets follows a landmark transaction in Asia this week when General Motors announced it was ceding majority control of its thriving Chinese passenger car venture to SAIC, its state-owned Chinese partner.
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