China's passenger car retail sales dip 16% in 1-4 weeks in Jul: CPCA

SHANGHAI, Aug 5 (SMM) – China's retail sales of passenger vehicles in the first four weeks of July shrank 16% from the same period a year ago, compared with a year-over-year rise of 5% in the first four weeks of June, the China Passenger Car Association (CPCA) said on Monday August 5. 
 
Downstream demand failed to recover in July. An actual resumption in passenger vehicle sales is expected after August, according to CPCA. 
 
CPCA data showed that domestic retail sales of passenger vehicles in June registered the first year-over-year increase in 13 months.