Arab Today, arab today china passenger car sales fall on economy market woes
Last Updated : GMT 03:00:38
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.

arabstoday
arabstoday

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

 



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 Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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