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QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
Auto sales drop at smallest pace in 7 months
    2019-04-15  08:53    Shenzhen Daily

THE country’s auto sales fell again in March but the pace of decline was the smallest in seven months, industry data showed, as carmakers reduced retail prices to boost business after the government handed out tax cuts to spur consumer spending.

Sales fell 5.2 percent from a year ago to 2.52 million vehicles, the China Association of Automobile Manufacturers (CAAM) said Friday, marking the ninth straight month of decline in the world’s largest auto market.

But this was the smallest drop since August 2018.

“We saw a warmer recovery in March. We are optimistic and hope to see the turning point appear in around July and August,” said Xu Haidong, assistant secretary general at the CAAM, the country’s biggest auto industry association.

Recent government cuts to value-added tax (VAT) are expected to further benefit car sales, Xu added.

“We expect China’s auto market to see positive growth in the third quarter and a relatively large increase in the fourth quarter,” said Alan Kang, Shanghai-based analyst at LMC Automotive.

Last month, NEV sales rose 85.4 percent to 126,000 units, the CAAM said.(SD-Agencies)

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