China auto sales drop for 17th straight month in November [Reuters]
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Source: Reuters
China auto sales drop for 17th straight month in November 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 its 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. “The China 5-6 emission standard change is the biggest reason for this year’s sales plunge,” said Chen Shihua, deputy secretary general at CAAM, referring to how local governments had accelerated changes to emission standards this year. He added that overall car production levels were now returning to
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