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China Automotive Industry Association Issued its Semi-Annual Auto Report

Xinhua published an article on the China Automotive Industry Association auto sales report for the first half of the year. According to statistics, in the first 6 months of 2016, even though the auto production and sales volume grew 6.47 percent and 8.14 percent respectively compared to the same period last year, only 5 big auto manufacturers hit 50 percent of their annual sale’s target. The article stated that, without question, China’s automobile market’s growth is slowing down and many auto manufacturers have already reduced their 2016 annual sale target. The sales numbers also showed that there was an increase in sales for Japanese made models, a decrease for Korean made models, and increase in sales for China made brands.

Source: Xinhua, July 25, 2016