China Passenger Vehicle Sales Down for Second Month in August
China’s car sales were down for the second month in a row in August, as market saturation and flagging consumer confidence threaten to dampen growth in the world’s biggest auto market through year-end.
Retail sales of passenger vehicles — cars, SUVs and minivans — in China for August were 4.6% lower than they were a year earlier at 1.79 million units, following a 5.3% year-on-year drop to 1.89 million units the previous month, according to the latest figures (link in Chinese) published by the China Association of Automobile Manufacturers (CAAM), a government-backed industry group, on Tuesday.
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