Chinese car sales fall for fifth straight month

Quick Summary:

BEIJING: Passenger vehicle sales in China fell in August for the fifth straight month, industry data showed on Monday (Sep 9), though sales of all-electric and plug-in hybrid models rose, helped by subsidies for drivers trading in more polluting vehicles.Sales fell 1.

Car exports increased 24 per cent after a 20 per cent rise in July.

In line with a downshift in consumer spending, local EV majors Nio and Xpeng launched lower-priced brands earlier this year.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Showed Passenger Cent Data Sales China Trading Shanghai Year Month Association

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-09 @ 16:44:33 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 359 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22421231

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 24 posts per day

Year Established: 1999

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News Last Updated: 6 hours ago

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Publisher ID: #27

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