China Car Sales Down 4 Straight Month in October

Forex News

Car sales in China fell in October, marking the fourth straight month of declining sales in the world's largest auto market. The China Association of Automobile Manufacturers (CAAM) reported, that automobile sales fell 11.7% yoy to 2.38 million vehicles in October, follows an 11.6% drop in September and a 3.8% fall in August.

The (CAAM) also said, that overall sales for the first 10 months of the year totalled 22.87 million vehicles, down 0.1% from the same period a year earlier. Also, fall in October set a record for the steepest monthly fall since a 26.4% tumble in January 2012.