China Passenger-Car Sales Slow After Minivan Demand Tumbles
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China passenger-car sales increased at their slowest pace in five months, dragged by shrinking demand for minivans, after the government phased out incentives and raised the cost of borrowing.
Wholesale deliveries, including sport-utility vehicles and minivans, gained 1.4 percent to 1.22 million units last month, the China Association of Automobile Manufacturers said today in a statement. That’s the slowest pace since May, when they dropped 0.1 percent.