China's auto sales slow in August
BEIJING (AP) — China's auto sales growth decelerated further in August to 8.5 percent while sales of popular SUVs surged by nearly a third.
The China Association of Automobile Manufacturers said Thursday that drivers in the world's biggest auto market by vehicle sales bought 1.5 million passenger cars. Total vehicle sales, including trucks and buses, rose 4 percent to 1.7 million units.
Global automakers are looking to China to drive global sales but growth has slowed steadily as the economy cooled. Growth in auto sales declined from 13.9 percent in May to June's 11.5 percent and to 9.7 percent in July.
Chinese auto brands saw their market share erode further in August. Sales of passenger vehicles grew by 5.7 percent while those for German, Japanese and American brands increased by double digits.