Arab Today, arab today china passenger car sales fall on economy market woes
Last Updated : GMT 14:54:40
Arab Today, arab today
Arab Today, arab today

China passenger car sales fall on economy, market woes

Arab Today, arab today

Arab Today, arab today China passenger car sales fall on economy, market woes

Passenger vehicle sales in China fell in June
Beijing - AFP

Passenger vehicle sales in China fell in June as slowing growth in the world's second-largest economy and plunging share prices dampened consumer demand, an industry group said Wednesday.

Sales of saloon cars, multi-purpose vehicles (MPVs), sport utility vehicles (SUVs) and minivans declined 3.2 percent in June from a year ago to 1.43 million units, the China Passenger Car Association (CPCA) said.

The decrease was "a result of the stock market (coming off) the peak compounded with the slowdown in economic (growth)", the CPCA said in a statement posted on Chinese news portal Sohu's auto channel.

China's share market has lost around $3.5 trillion in value in a rout that began last month, according to Bloomberg News, a huge sum by any standards.

"The stock market turmoil has led more people to put off their plan to buy new cars," the CPCA said, adding dealers complained that some customers who had put down deposits had become "unwilling" or "did not have the cash" to pay the balance of their purchase.

Downward pressures on the broader Chinese economy had also affected the auto market as industrial companies' profit growth slowed, it said.

"All organisations' car buying enthusiasm is waning," it said.

Sales in the first six months rose 8.4 percent year on year to 9.89 million units, the CPCA said.

China's economy is in the grip of a slowdown as Chinese leaders try to engineer a transformation of the country's expansion model whereby consumer demand becomes the main driver rather than investment.

GDP growth slowed to 7.4 percent in 2014, the weakest rate in 24 years. In the first quarter it eased further to 7.0 percent, a post global financial crisis low.

Many economists expect the expansion may have decelerated further in the second quarter on weakening investment and subdued domestic demand, despite Beijing taking stimulus measures to bolster growth.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china passenger car sales fall on economy market woes Arab Today, arab today china passenger car sales fall on economy market woes

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 07:21 2017 Sunday ,19 February

Kenya, Egypt resolve to boost bilateral trade

GMT 05:42 2017 Sunday ,19 February

British consumers battered by Brexit inflation

GMT 05:19 2017 Sunday ,19 February

Russia is ready to act on strong ruble

GMT 05:13 2017 Sunday ,19 February

Iran discovers shale reserves

GMT 16:23 2017 Saturday ,18 February

Indonesia releases seized shipments of citrus

GMT 14:30 2017 Saturday ,18 February

Chile seeks free trade commitments in Asia-Pacific

GMT 03:37 2017 Saturday ,18 February

Venezuela gears up military machine amid economic crunch
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday