China's passenger car market remains sluggish in February

                            2019-03-11 02:41:32 GMT2019-03-11 10:41:32(Beijing Time) Sina English

                            China's passenger car market remained sluggish in February, with sales down 18.5 percent year on year, data from the China Passenger Car Association (CPCA) showed.

                            China sold 1.19 million passenger cars last month, falling for the ninth straight month.

                            The decreased rate in February expanded sharply from a 4-percent year on year drop in January.

                            Xu Haidong, assistant secretary general at the China Association of Automobile Manufacturers, attributed the downward trend of sales in February partly to a slowing economy and a declining demand in smaller cities.

                            The slowdown in sales can also be attributed to the Spring Festival, which fell on Feb. 5, as consumers always delay their purchases ahead of holidays, analysts said.

                            | PRINT | RSS
                            Add Comment