Chinese auto sales post worst-ever monthly decline as trade war intensifies

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Chinese auto sales post worst-ever monthly decline as trade war intensifiesBEIJING/SHANGHAI (Reuters) - China reported the worst-ever monthly sales drop in the world's largest vehicle market on Wednesday, exacerbating concerns over the country's economic slowdown and growing impact of an ongoing trade war with the United States. Sales tumbled 16.4% in May from the same month a year prior, the China Association of Automobile Manufacturers (CAAM) said. Xu Haidong, CAAM's assistant secretary general, said one key reason for the drop was provinces implementing 'China VI' vehicle emission standards earlier than the central government's 2020 deadline, stoking uncertainty among manufacturers.


Read More: https://finance.yahoo.com/news/chinese-auto-sales-post-worst-081342584.html

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