China auto sales rise at slowest pace in five months in Oct - industry body

SHANGHAI/BEIJING :China's auto sales rose at their slowest pace in five months in October, from a weak base a year ago, as zero-COVID policies kept consumers away from showrooms and weighed on sentiment, while the effect of incentives for buyers also waned.

Total auto sales rose 4.6 per cent from the same period last year, CAAM data showed, up slightly from 4.4 per cent in the first nine months of the year. In July, CAAM lowered its auto growth projection for 2022 to 3 per cent from 5.4 per cent previously.Automakers in China delivered a record number of cars to dealers in the first nine months of the year even as retail demand slowed, setting up the market for a slowdown in 2023, analysts at China Merchants Bank International said last month.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China Oct auto sales rise at slowest pace in five months - industry bodySHANGHAI/BEIJING : China's auto sales rose at their slowest pace in five months in October, from a weak base a year ago, underscoring faltering demand due to waning effect of incentives, while persistent zero-COVID policies kept consumers away from shopping sentiment.The world's biggest auto market posted
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »