China's June auto sales fall, extending year-old decline

BEIJING — China says auto sales fell 7.8% in June amid a trade fight with Washington and slower economic growth, extending a year-old contraction that is squeezing automakers as they spend on developing electric cars.

An industry group said Wednesday drivers in the global industry's biggest market bought 1.7 million SUVs, sedans and minivans.

The China Association of Automobile Manufacturers said total purchases in the first six months of 2019 fell 14 percent from a year earlier to 10.1 million vehicles. That was below industry forecasts of flat to slightly lower growth.

Jittery consumers are less willing to make big purchases amid unease about China's economic outlook. Growth in the second-largest global economy held steady in the latest quarter but that was supported by government spending and higher bank lending.

Must Read

Hailing cooperation, US and China join global...

Sep 3, 2016

President Barack Obama and China's President Xi Jinping on Saturday sealed their nations'...

Hong Kong pro-democracy candidates retain veto in...

Sep 5, 2016

A group of young Hong Kong pro-democracy activists has pulled off a stunning election victory,...

Asian markets lower after Wall Street decline

Sep 15, 2016

Asian stock markets were mostly lower Thursday following Wall Street's decline in light trading...

2 dead after powerful typhoon sweeps through...

Sep 15, 2016

Officials say a powerful typhoon has swept into southeastern China after hitting Taiwan, leaving a...

Taiwan loses diplomatic ally in move welcomed by...

Dec 21, 2016

Taiwan has condemned the African island nation of Sao Tome and Principe's "abrupt" move to break...