Saturday 4 February 2012

Chinese car sales sink 24% (CN)

New car sales in the world's largest market plunged 24% in January, marking a weak start to sales in the auto industry.

Bloomberg reports that the fall in sales is the largest decline in seven years, although the earlier than normal Lunar New Year holiday slashed a week worth of sales. The best-selling car was the Buick Excelle GT, racking up 28,660 sales.

It's not all bad news, BMW and Audi saw sales increase by 30% and 23% respectively. On a side note, retail grew at the slowest pace since 2009.

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