Chinese auto sales fell for the 14th time in 15 months, extending what’s already been a historically prolonged slump in the world’s largest car market. Sales of sedans, sport utility vehicles, minivans and multipurpose vehicles in August fell 9.9 per cent from a year earlier to 1.59 million units, the China Passenger Car Association said on Monday.
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Automakers reeling from the industry’s longest downturn in three decades continue to face headwinds as the economy slows and trade tensions persist. China has rolled out a series of supportive measures to encourage consumption — the latest one coming last month, when the government issued guidelines to loosen car-purchase restrictions.
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