China’s vehicle sales fall 11.1% in February, ending an eight-month rising streak
Beijing — China’s vehicles sales in February fell 11.1% from a year earlier to 1.72-million vehicles, an industry body said on Friday, as growth in the world’s largest automotive market reversed after a rapid start to the year. The steep drop, impacted by the timing of the week-long Chinese New Year holiday which was in February this year but January in 2017, comes after vehicle sales rose 11.6% in the first month of the year, the fastest in 11 months. The February drop marked the end of an eight-month rising streak for China’s vehicle market, even if growth has generally been tepid since the second-half of last year. China’s vehicle sales for the first two months of the year combined were up 1.7% at 4.53-million. The China Association of Automobile Manufacturers (CAAM), which has predicted 3% market growth this year, said it was hard to determine full-year growth. Sales rose 3% last year, sharply down from a 13.7% gain in 2016. "Regarding the annual sales target, whether it is 3% o...
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