China auto sales drop for 17th straight month in November - industry association [Reuters]
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Source: Reuters
China auto sales drop for 17th straight month in November - industry association BEIJING/SHANGHAI (Reuters) - Auto sales in China fell for a 17th consecutive month in November, with the number of new energy vehicles (NEVs) sold contracting for a fifth month in a row, data from the country’s biggest auto industry association showed on Tuesday. Total auto sales in the world’s biggest auto market fell 3.6% from the same month a year earlier, the China Association of Automobile Manufacturers (CAAM) said. That follows a drop of 4% in October and 5.2% in September. Car sales in the country contracted last year for the first time since the 1990s against a backdrop of slowing economic growth and a crippling Sino-U.S. trade war. In November, sales of NEVs fell 43.7%, CAAM said, following a 45.6% drop in October. NEV sales had jumped almost 62% last year even as the broader auto market contracted. NEVs include plug-in hybrids, battery-only electric vehicles and those powered by hydrogen fuel ce
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