The Strategist

Sales of Cars in China Fell to the Lowest in 17 Months

08/11/2015 - 15:21

Sales of passenger vehicles (including SUVs and minivans) in China fell in July to the lowest in 17 months, despite the increase in discounts, reports Bloomberg.

Index shows drop in the second consecutive month in June, it was recorded for the first time since February 2013.

According to the China Passenger Car Association (CPCA), sales last month fell by 2.5% compared to July 2014 to 1.3 million vehicles, the lowest level since February 2014.

The data of the China Association of Automobile Manufacturers (CAAM) showed a fall in July by 6.6% in annual terms - and to a minimum of 17 months.

In major Chinese cities, dealers offer customers discounts of at least 30% for the hundreds of car models.

In July, the China Automobile Dealers Association announced that auto sales in China may fall in 2015 for the first time in 17 years. China is now the largest auto market in the world.


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