Passenger vehicle retail sales in China in August declined by 14.7 percent year on year, while down 3.3 percent month on month, which was a very bad performance compared to the year-on-year growth of 6-10 percent recorded in the past few years, according to the China Passenger Car Association (CPCA).
The retail sales of passenger vehicles amounted to12.90 million units in the January-August period this year, up 17.1 percent year on year, six percentage points lower than the growth recorded in the first seven months.