China car sales drop
Sunday, 7 December 2008
BEIJING, Dec 6 (AFP): Car sales in China fell more than 10 per cent in November as the global financial crisis eroded consumer confidence, state media reported.
The number of passenger vehicles sold in November dropped to 522,800 -- a 10.3 per cent year-on-year decline, the official Xinhua news agency reported yesterday, quoting the China Association of Automobile Manufacturers.
The slump, which ended a small sales rebound in October, was attributed to weak consumer confidence as China's economy slowed in the face of the global crisis, Xinhua said.
The number of passenger vehicles sold in November dropped to 522,800 -- a 10.3 per cent year-on-year decline, the official Xinhua news agency reported yesterday, quoting the China Association of Automobile Manufacturers.
The slump, which ended a small sales rebound in October, was attributed to weak consumer confidence as China's economy slowed in the face of the global crisis, Xinhua said.