China passenger car sales fall on economy, market woes

[WorldNews]

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Passenger vehicle sales in China fell in June as slowing growth in the world's second-largest economy and plunging share prices dampened consumer demand, an industry group said Wednesday. Sales of saloon cars, multi-purpose vehicles (MPVs), sport utility vehicles (SUVs) and minivans declined 3.2 percent in June from a year ago to 1.43 million units, the China Passenger Car Association (CPCA) said. The decrease was "a result of the stock market (coming off) the peak compounded with the slowdown in economic (growth)", the CPCA said in a statement posted on Chinese news portal Sohu's auto channel.

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