February confirms China’s slowdown concerns

Vehicle sales in China are clearly showing signs of a slowdown, as February figures dip 0.2% year-on-year. According to figures from the China Association of Automobile Manufacturers (CAAM), sales of passenger and commercial vehicles slipped to 1.59 million units in February. A 30.9% decline in commercial vehicles to 196,600 units overshadowed a 6.5% rise in passenger car sales to 1,396,700 units. The overall 0.2% fall followed a 7.6% rise in January and a 12.9% rise in December. For the January-February period, sales in the country remain up 4.3%.