World News: 09:13 GMT Wednesday 12th June 2019. [Yahoo Business News Feed via SPi World News]
BEIJING/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.
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.