Chinese vehicle sales growth slows down in July to 9.9 percent
AFPSHANGHAI -- Growth in China's vehicle sales slowed to an annual 9.9 percent in July, an industry group said Friday, as the world's largest car market entered its low season.
August 10, 2013, 12:08 am TWN
The China Association of Automobile Manufacturers (CAAM) said they experienced a slowdown in growth from June's 11.2-percent improvement.
Sales for the first seven months totaled 12.30 million units, the group said, up 12.0 percent from a year earlier but lower than the 12.3-percent growth registered in the first half.
Automakers usually carry out equipment maintenance and send workers on holiday to avoid China's hottest weather in late July and early August, CAAM said in explanation of the slowdown.
Monthly passenger vehicles sales grew 10.5 percent year-on-year to 1.24 million units, the statement said, adding Chinese-brand sales increased 5.8 percent to 435,500 units to give them a 35.2-percent market share.