Auto sales to decelerate
Growth in China’s auto sales will likely slow to 4.6 percent this year, lower than the previous forecast of 8.3 percent, Bloomberg Tuesday quoted the head of the country’s auto association as saying.
Dong Yang, secretary-general of the China Association of Automobile Manufacturers (CAAM), noted a slowdown in sales over the past two months and said the industry body was looking into the reason for the weakness.
Auto sales rose 2.5 percent in September compared with the same month a year earlier, its slowest pace in 19 months, dragged down by sluggish sales of commercial vehicles such as trucks, the CAAM said last week. Sales rose 4 percent in August.