Car sales slow on ‘diminishing wealth’
China's monthly passenger-car sales growth slowed in May as falling stock prices eroded wealth and consumer prices rose in the world’s largest automobile market.
Demand for cars, sport-utility vehicles and multipurpose vehicles rose 25 percent from a year earlier to 885,800 last month, the China Automotive Technology & Research Center said yesterday. That compared with 34 percent growth in April, according to the center.