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Decline in Chinese automobile sales
(MENAFN) Statistics that the China Association of Automobile Manufacturers (CAAM) issued revealed a 6.9 percent decline in China's automobile sales for last month.
CAAM showed China's sales of automobiles to have stood at an overall of 1.958 million for August compared to results seen a year earlier.
Meanwhile, vehicle production slumped by 0.5 percent on annual basis and 11.9 percent on monthly basis to reach 1.991 million vehicles.
In a statement, the CAAM affirmed "while we did not see sharp declines in car sales and production in August, downward pressure on the industry still looms."
CAAM showed China's sales of automobiles to have stood at an overall of 1.958 million for August compared to results seen a year earlier.
Meanwhile, vehicle production slumped by 0.5 percent on annual basis and 11.9 percent on monthly basis to reach 1.991 million vehicles.
In a statement, the CAAM affirmed "while we did not see sharp declines in car sales and production in August, downward pressure on the industry still looms."
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