8/13/2019

Car Wholesales Drop 4% in China

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Factory sales of new cars to dealers in China slid 4% to 1.8 million units, marking the 13th consecutive month of year-on-year shrinkage, says the China Assn. of Automobile Manufacturers.

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Factory sales of new cars to dealers in China slid 4% to 1.8 million units, marking the 13th consecutive month of year-on-year shrinkage, says the China Assn. of Automobile Manufacturers.

Sales through the first seven months of 2019 dropped 11% to 14.1 million cars and commercial trucks. But volume fell 16% in May and 10% in June, hinting that the decline is slowing.

The trade group notes that wholesales of cars and commercial vehicles fell 13% to 14.1 million in the first seven months of 2019. Passenger vehicles, which account for more than 80% of the total, shrank 13% to 11.7 million during the same period.

The China Passenger Car Assn., which tracks retail sales, predicts a gradual uptick in new-car deliveries through the remainder of 2019.