Chinese Car Sales Slow

Chinese car sales growth has slowed considerably. In the first quarter of this year car sales grew 44 per cent, in the second quarter they grew 22 per cent. By July sales growth slowed down to four per cent and now the booming sales figures appears to be stabilising as sales only increased by 0.1 per cent in August. The Chinese market will continue to be a force to be reckoned with, not simply due the country’s large population but also because year-to-date the automotive sales have grown by 21 per cent. Analysts are forecasting that the numbers will be similarly weak in the fourth quarter of this year.