Car Sales Rise 4% in China
Retail deliveries of passenger vehicles in China grew to 1.57 million units last month compared with 1.51 million in May 2014, according to the China Passenger Car Assn.
Retail deliveries of passenger vehicles in China grew to 1.57 million units last month compared with 1.51 million in May 2014, according to the China Passenger Car Assn.
The group reports sales through the first five months of 2016 totaled 8.46 million, up 11% year on year. Many analysts expect full-year volume to climb less than 7% as China's economy throttles back to what the government considers a more sustainable pace.
The China Assn. of Automobile Manufacturers will report its own data later this month.
A fierce price war among carmakers has been helping to stimulate demand for new cars, but results have been mixed for foreign brands. A flood of inexpensive SUVs and crossovers is driving volume for China's domestic brands.