Even though China's monthly passenger vehicle sales jumped nearly 80 percent year on year to 923,154 units in October, its month to month comparison was 8.1% down.

Could this be the effect of China's fading stimulus auto sales policy?

Earlier this year, China issued a series of policies to stimulate its domestic consumption, including policies to encourage the trade-in of used cars for the new ones and other subsidies for the purchase of new cars.  But now, this impact has faded away.  So the auto sales in October might be more reflective of the true market demand.

Nonetheless, China's auto market is expected to grow fast, at least in comparison to the saturated U.S. auto market.

"We expect full-year auto sales to touch 13.5 million with a year-on-year growth rate of 44 percent. That in turn, would make China the world's largest auto market for the whole year," said Rao Da, head of China Passenger Car Association.