China Association of Automobile Manufacturers data released on Friday showed that passenger car sales in the country fell for a second consecutive month in September, as the economy slowed.
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New car sales fell 1.44% year on year last month to 552,800 units, Reuters reported, citing the country’s official car industry association.
The news agency noted the data followed earlier nine-month figures from key automakers showing a noticeable slowdown in growth over last year.
Ford sales climbed 7.13% in the first three quarters compared with 30% growth a year ago.
Volkswagen posted 13.1% sales growth in mainland China, Hong Kong and Macau during the first nine months of the year, compared with 30% in January-September 2007.
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By GlobalDataIndustry researcher JD Power and Associates has forecast China car sales growth for 2008 at 9.7%, down sharply from 2007’s 24.1%.
September’s fall followed a 6.24% drop in August, which marked a stunning reversal for an industry that had grown accustomed to years of double-digit sales growth, Reuters noted.
Higher fuel prices and the Beijing Olympics had also been blamed along with the slowing economy for keeping customers from showrooms, the report added.
