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China auto sales down 5.3 percent as SUV demand sags

10 August, 2018 2:10 PM
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China auto sales down 5.3 percent as SUV demand sags

China's auto sales shrank by 5.3 percent in July from a year earlier as SUV demand sagged, adding to signs of economic malaise amid a tariff battle with Washington.

The China Association of Automobile Manufacturers, said that drivers in the biggest auto market bought 1.6 million sedans, SUVs and minivans.

Total sales, including trucks and buses, fell 4 percent to 1.9 million. Demand has cooled amid forecasts of slowing economic growth after Beijing tightened lending controls to cool surging debt.

Source: moneycontrol.com

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