A survey of Chinese consumers is reporting a fall in plans to purchase calls amid current concerns over China's economic slowdown and the dent to confidence caused by recent sharp falls on Chinese stock markets.

The MNI China Auto Purchase Sentiment Report said that the proportion of consumers planning to buy a car in the next 12 months fell to 18.7% in August from 20.7% previously.

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It also said 'The Car Purchase Expectations Indicator' (a gauge of whether consumers believe it is a good time in general to buy a car) fell 0.9% to 100.2 in August, roughly back in line with June's subdued level. Its close proximity to 100 indicates that roughly the same proportion of respondents were positive about purchasing a car as those who were negative.

MNI Indicators also said that its composite indicator for sentiment about the auto sector, which is made up of Car Purchase Expectations and Gasoline Price Sentiment was also relatively flat on the month. The Car Purchase Sentiment Indicator fell 0.3% to 86.9 in August from 87.1 in July, “unable to break out of the downward trend that has emerged so far in 2015”.

MNI Indicators also reported that the planned car budget of Chinese families continued to trend towards the middle ranges in August with the more expensive bands falling out of favour. The largest percentage of responses went to the mid range of CNY 100,000 – CNY 140,000 while the budget tier below commanded the second largest share.

See also: COMMENT: China's economic turbulence worries auto industry

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