InfoAnda - China auto sales continue to slow in July: report

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China auto sales continue to slow in July: report AFP - Tuesday, August 10 Send IM Story Print China auto sales continue to slow in July: report BEIJING (AFP) - – Growth in China's auto sales slowed in July from the previous month, an industry group said Monday, as demand for vehicles in the world's biggest market continued to soften. Total vehicle sales rose 14.4 percent year-on-year to 1.24 million units in July, the first time this year that the growth rate was below 20 percent, the China Association of Automobile Manufacturers said on its website. In June, sales grew 23.5 percent from a year earlier. The data also marks the fourth straight month that month-on-month sales have braked after hitting a record high of 1.74 million units in March, as economic growth slows and authorities reduce subsidies for purchases of small cars. Passenger car sales rose 13.6 percent from a year earlier to 946,200 units in July, the industry group said. In the first seven months of the year, vehicle sales around the country totalled 10.3 million units, up 42.7 percent from the same period a year ago. Dong Yang, a top official of the industry group, last week played down concerns about the slowdown, saying it was "beneficial for the sustained development of the industry". He predicted full-year vehicle sales would exceed 15 million units this year compared with more than 13.64 million units in 2009, which confirmed the nation's status as the world's biggest car market. The CAAM figures differed from those published by the China Automotive Technology and Research Centre earlier this month, which showed that auto sales in July totalled 1.06 million units, up 17.2 percent from a year earlier. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 23 minutes ago Skype files for IPO of up to $100 million Reuters - 24 minutes ago WTO condemns Australian ban on New Zealand apples Reuters - 27 minutes ago Russia rouble hurt by concern over drought impact Reuters - 34 minutes ago Sara Lee CEO Barnes steps down permanently Reuters - 40 minutes ago News Search Top Stories Campbell said she got diamond from Taylor: Farrow BP oil spill response costs hit $6.1 bln German trade data bodes well for European growth BP spends $6.1 bln on Gulf spill response Israel PM defends flotilla raid as 'lawful' More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Sauna contest in Finland cut short as Russian dies Massive ice island breaks off Greenland glacier Campbell said she got diamond from Taylor: Farrow Former HP boss reaches settlement with accuser BP spends $6.1 bln on Gulf spill response More Most Viewed » Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study Massive ice island breaks off Greenland glacier More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010

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