Heatwave, fewer buyers hit auto market

Updated 2017-08-03 09:00:21 Shanghai Daily

China's auto market drove into an off-season in July as sentiment was dampened due to fewer customers and the heatwave across the country, the China Automobile Dealers Association said.

Another factor for the off-season was that car prices dropped further in July and that led to a decreasing dealer margins, the association said.

"Demand fell in July due to the high summer temperature and fewer customers. We can say the auto market has entered into an off-season last month," said Fan Yu, a spokesman of the association.

About 41.7 percent of car dealers said the number of car buyers declined in July, 21.8 percent of them believed the number of customers rose and 36.6 percent said the number was unchanged, according to a survey conducted by the association.

More than half of the dealers said their selling price of cars fell last month, according to the survey.

The association said car dealers are not optimistic on auto sales in August, with some dealers saying market demand and operating conditions will be worse this month compared with last month.

The survey covered most car dealers from the top 100 auto dealership groups in China.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58January 17 2019 05:00:42

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16January 17 2019 05:00:42

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18January 17 2019 05:00:42

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords