Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Forget About 5G, China Says. We’re Already Developing 6G
Alibaba Sued by Home Appliance Maker Over E-Commerce Marketing
WeChat Pay Eyes Foreign Visitors in Race with Alipay
LATEST
Tesla Gets Permit to Start Mass Production in China
In Unusual Move, China Investigates Supermarket Chain Acquisition Over National Security Concerns
Tencent Profits Drop 13% in 3rd Quarter
Bytedance’s News App Disciplined for ‘Slandering’ Communist Hero
Didi Apologizes After Driver Allegedly Stabs Angry Passenger
Huya Posts Solid Third-Quarter Growth as User Base Expands
Kingsoft Office Targets $660 Million as It Moves Toward Listing on New Shanghai Tech Board
Expanding Central Bank Campaign Imposes More Fines for Money Laundering
Investors Applaud SMIC and YY, Shun Huami After Latest Earnings Reports
China Sets PM2.5 Goals for Yangtze River Delta and Fenwei Plain Regions
Is Didi Next in Line for Valuation Correction?
Challenging Tesla, Chinese Property Giant Vows to Unveil First Electric Car Next Year
Two Persons Diagnosed With Pneumonic Plague in Beijing
Huawei Hands Out Billions in Bonuses for Staff Response to Sanctions
Tencent Marks Anniversary by Touting Its Tech as Good for Society
Xiaomi Maintains Lead in India Handset Market, but Chinese Rivals Pose Growing Threat
China to Launch Mobile Number Portability Program on Dec. 1
China’s Pork Prices Rose 101% Year-on-Year in October
In Depth: Is the Sharing Economy Bubble Bursting?
After Double 11 Smashes Shopping Records, What Next for China’s E-Commerce Giants?
China’s Auto Market Continues Deceleration

By An Limin and Han Wei / May 17, 2019 02:23 AM / Business & Tech

Photo: VCG

Photo: VCG

Downward pressures on the world’s largest auto market extended into May with a further slowdown in sales, continuing the decline of the year’s first four months.

Sales of passenger cars decreased 24% in the first week of May from a year ago, according to the China Passenger Car Association (CPCA). Transactions between automakers and dealers fell 44% year on year, the CPCA said.

The May drop extends a 21.4% decline in auto sales during the first four months this year, following the first annual drop last year in more than two decades.

Weakening sales in the auto market dragged down China’s overall consumption. The China’s total social retail sales rose 7.2% in April, down 1.5 percentage points from the previous year and is the lowest reading since June 2003, according to the National Statistics Bureau on Wednesday.

Related: Growth in China’s Retail Sales Slides to Near 16-Year Low

Share this article
Open WeChat and scan the QR code