Economics
China Car Sales Drop as Economic Woes, U.S. Trade War Hit Buyers
- Consumers shunning showrooms leads to third straight decline
- SUV demand wanes; buyers may look at more economical options
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China’s car sales fell for a third straight month as an intensifying trade dispute with the U.S. and slowing economic growth are threatening to end the vehicle market’s almost three-decade expansion.
Retail sales of cars, SUVs and multipurpose vehicles declined 7.4 percent to 1.76 million units in August, the China Passenger Car Association said Monday in a statement. That compares with a 5.4 percent drop in July, and brings the year-to-date growth in the world’s biggest car market to 0.8 percent.