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China’s auto sales fall in August

China’s auto sales fall in August

Mubasher: Passenger car sales continued to plunge in China, data from an industry body showed on Monday.

The total number of sold sedans, sport utility vehicles (SUVs), minivans and multipurpose vehicles fell by 9.9% to 1.564 million units in August, compared with last year, and 5.4% on a monthly basis, the China Passenger Car Association (CPCA) said.

The sales plunge came on the back of lacklustre production and unfavourable weather conditions during August.

Moreover sales of new energy passenger cars dropped by 15.5% year-on-year last month, but they climbed by 6%, compared with the preceding month.

That said, CPCA expected market sentiment to pick up in September with retail sales projected to remain flat and wholesale to recover.