China auto sales fall 14 pct in February, mark eighth month of decline [Reuters]
GREAT WALL MOTOR CO ADR (GWLLY)
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Source: Reuters
China auto sales fall 14 percent in February, mark eighth month of decline | Reuters 2 Min Read BEIJING (Reuters) - China’s automobile sales fell 13.8 percent in February from the same month a year earlier, the country’s biggest auto industry association said on Monday, marking the eighth consecutive month of decline in the world’s largest auto market. The China Association of Automobile Manufacturers (CAAM) said sales fell to 1.48 million vehicles. That followed declines of 16 percent in January and 13 percent in December. New energy vehicle sales, in contrast, rose 53.6 percent year-on-year in February, it said. The figures come as China plans billions of dollars in tax cuts and infrastructure spending to support an economy growing at its slowest pace in almost 30 years due to softer domestic demand and a trade war with the United States. The government is now trying to persuade consumers to spend and has pledged subsidies to boost rural sales of some vehicles as well as the sales o
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