China's passenger car retail sales fall 31% on year in 1st week of Aug

SHANGHAI, Aug 14 (SMM) – China's retail sales of passenger vehicles in the first week of this month, (August 1-11), shrank 31% from the same period a year ago, worse than a year-over-year decline of 6% in the first week of July, the China Passenger Car Association (CPCA) said on Wednesday August 14. 

During August 1-11, daily retail sales of passenger vehicles averaged 27,000 units, CPCA data showed. 

Most carmakers have yet to resume from summer break, which may result in the recent weakness in the car market.