CHINA-INTERNAL ECONOMY: REDUCED AUTO SALESĀ
China’s passenger-car sales in April saw their biggest decline in nearly two years as the world’s largest car market continued to feel the effect of a higher sales tax, though several foreign auto makers bucked the trend by logging sales increases. The government-backed China Association of Automobile Manufacturers said on May 11, 2017, that total vehicle sales fell 2.2% year over year to 2.08 million. Passenger-car sales declined by 3.7% to 1.72 million, their biggest fall since July 2015. Sales of commercial vehicles climbed 5.3% to 362,000. |