CAAM: China’s Jan-Aug auto sales down 11% on year
Sep 12, 2019 11:40
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China’s auto sales were still under downward pressure over January-August, though the year-on-year decline narrowed to 11% on year as against the 11.4% for the first seven months, Mysteel Global noted from the latest statistics from the China Association of Automobile Manufacturers (CAAM) on September 11.
For the first eight months of 2019, China’s auto sales totalled 16.1 million units, and the decrease in auto manufacturing slowed too, down by 12.1% on year to 15.9 million units as against the 13.5% year-on-year decline for January-July.
CAAM predicted the country’s auto sales to decline by 5% on year