China Auto Association Cuts Sales Forecast
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China’s state-backed auto association forecast that vehicle sales will slow more than it previously projected, as the economy showed little signs of improvement and more cities consider purchase restrictions.
Total industry vehicle deliveries will probably rise 8.3 percent to 23.83 million units, compared with its January prediction for 10 percent growth, the China Association of Automobile Manufacturers said in a statement today. Last year, sales increased 14 percent, making China the first country in which more than 20 million vehicles were sold in any given year.