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Comment (China's passenger car sales rose 14.2 percent in the first half of this year, lower than an earlier expectation of 20 percent, as more stringent macroeconomic control policies and record high oil prices curbed purchases.
Domestic car makers sold a combined 3.3 million passenger vehicles including sedans, multi-purpose vehicles, sport utility vehicles and mini buses from January to June, the China Passenger Car Association said yesterday. Production rose 16.9 percent to 3.6 million vehicles during the same period.
Though sales in June grew 13 percent year on year to 517,469 units, it was the third consecutive month the rise in sales has reversed, triggering market speculation of a slowdown in the overall market for this year.
Rao Da, secretary general of CPCA, the semi-official automotive body, blamed the reversal on floods in south China that halted production of some car makers and the suspension in vehicle shipments.
Buying put off
China raised...
