BEIJING | China auto sales fall in October, deepening slump

9Nov - by Editor - 0 - In STL.News



BEIJING — China’s auto sales sank for a fourth month in October as an unexpectedly painful slump in the global industry’s biggest market deepened.

Purchases of SUVs, sedans and minivans contracted 13 percent from a year earlier to just over 2 million units, the China Association of Auto Manufacturers reported Friday.

Auto demand had been forecast to weaken after Beijing clamped down on bank lending late last year to cool a debt boom.

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