Carmakers Get No Relief in China as Auto Sales Keep Plunging
- Ninth straightly monthly drop leaves automakers reeling
- Slump has industry predicting acquisitions, combinations
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China’s car sales fell for the ninth consecutive month in February, pulling automakers deeper into a slump that’s threatening their long-term growth plans in the world’s largest market.
Retail sales of sedans, sport utility vehicles, multipurpose vehicles and minivans fell 18.5 percent to 1.19 million units last month, the China Passenger Car Association said Friday. That follows a 4 percent decline in January and the first annual drop in more than two decades.