CAAM: China's auto sales dip 3.7% YoY over Jan-Jul

China's cumulative auto sales (including exports) and production reached 17.60 million units and 17.57 million units respectively over the first seven months of this year, both down by 3.7% on year, according to the latest release by the China Association of Automobile Manufacturers (CAAM) on August 12.

For July alone, China's auto sales and production held steady at 2.58 million units and 2.57 million units, down by a minimal 0.3% and 0.7% on year, the CAAM data showed. If compared with June's result, July sales and production were lower by 8% and 6.8% respectively. CAAM cited seasonal factors for the some of the on-month