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Tuesday July 7th, 2020 9:33PM

China's auto sales fall 17.7% in April, extending slump

By The Associated Press

BEIJING (AP) — China's auto sales sank 17.7% in April from a year earlier, extending a slump amid trade tension with Washington and an economic slowdown.

An industry group, the China Association of Auto Manufacturers, said drivers in the industry's biggest global market bought 1.6 million sedans, SUVs and minivans.

Auto sales for the first four months of the year are off 14.7% from a year earlier at 6.8 million, according to CAAM. Sales by Chinese brands in April plunged 27.9% year-on-year to 585,000.

It was the tenth straight month of decline. The downturn is squeezing Chinese and global automakers that are pouring money into meeting government targets to develop electric vehicles.

Jittery consumers are less willing to make big purchases amid a tariff war with Washington and unease about China's economic outlook.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
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