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
Zhongji Innolight Clears Hong Kong Listing Hearing for Potential $7 Billion IPO
China Issues First Level 3 Certifications Under AI Device Grading System
LATEST
Kai-Fu Lee Says AI Will Soon Reshape Corporate Reporting and Management
Flashy Robot Demos at WAIC Mask Struggles With Real-World Deployment
Kimi K3 Demand Surge Forces Moonshot AI to Pause Sign-Ups
Chinese AI Chip Startups Look Beyond the Cloud to Edge Devices
Biren Unveils 1,024-GPU Optical Super Node Architecture
As AI Agents Take Off, Integration Becomes an Obstacle
Zhongji Innolight Clears Hong Kong Listing Hearing for Potential $7 Billion IPO
China Issues First Level 3 Certifications Under AI Device Grading System
In Depth: China’s AI Boom Creates Demand for a New Kind of Engineer
China’s First AI Companion Rules to Curb Addiction, Protect Minors
China Clears Mobile AI Models, Paving Way for Apple Intelligence
Alibaba Leads $439 Million Funding Round for AI Video Startup AIsphere
Smartphone Shipments Slump as AI Demand Squeezes Memory Supply
StepFun Aims to Bring AI to the Masses With Smartphone
Chinese Robotics Startup Raises $200 Million
Tencent Expands AI Computing Capacity After Hy3 Demand Surge
Xiaomi Cuts Jobs Across Divisions as Earnings Come Under Pressure
Chinese AI Developer MiniMax Raises HK$16 Billion From Equity, Convertible Bond Sale
Tokopedia Downsizing Sparks Indonesian Government Concerns Over Mass Layoffs
AI Chipmaker Enflame Wins Approval for $883 Million STAR Market IPO
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