Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
DeepSeek Releases Official V4-Flash Model as China’s AI Race Intensifies
LATEST
DeepSeek Releases Official V4-Flash Model as China’s AI Race Intensifies
ByteDance, MiniMax Roll Out Upgraded AI-Video Models
Zhongji Innolight Slides in Hong Kong Debut Following $7 Billion IPO
Zhongji Innolight Rebounds After Buyback Plan, Easing Jitters Ahead of Hong Kong Debut
Lenovo Capital Executive Warns of Reckoning for China’s Crowded AI-Powered Robotics Sector
U.S. Takes Aim at Chinese Robot-Makers With Sweeping Import Ban
SK Hynix’s Earnings Miss Adds to Anxiety Over AI Boom
Consumer-Electronics Makers Bet on AI Agents as Phones, Glasses Compete
Moonshot Open-Sources Kimi K3 as U.S.-China AI Tensions Intensify
TikTok Faces New EU Penalty Threat Over Children’s Safety
AgiBot Begins Hong Kong IPO Process as China’s Embodied-AI Startups Race to List
Tencent Folds Multimodal, LLM Teams Into New AI Unit
Kai-Fu Lee Says AI Will Soon Reshape Corporate Reporting and Management
Flashy Robot Demos at WAIC Mask Struggles With Real-World Deployment
Kimi K3 Demand Surge Forces Moonshot AI to Pause Sign-Ups
Chinese AI Chip Startups Look Beyond the Cloud to Edge Devices
Biren Unveils 1,024-GPU Optical Super Node Architecture
As AI Agents Take Off, Integration Becomes an Obstacle
Zhongji Innolight Clears Hong Kong Listing Hearing for Potential $7 Billion IPO
China Issues First Level 3 Certifications Under AI Device Grading System
China’s Auto Market Continues Deceleration

By An Limin and Han Wei / May 17, 2019 02:23 AM / Business & Tech

Photo: VCG

Photo: VCG

Downward pressures on the world’s largest auto market extended into May with a further slowdown in sales, continuing the decline of the year’s first four months.

Sales of passenger cars decreased 24% in the first week of May from a year ago, according to the China Passenger Car Association (CPCA). Transactions between automakers and dealers fell 44% year on year, the CPCA said.

The May drop extends a 21.4% decline in auto sales during the first four months this year, following the first annual drop last year in more than two decades.

Weakening sales in the auto market dragged down China’s overall consumption. The China’s total social retail sales rose 7.2% in April, down 1.5 percentage points from the previous year and is the lowest reading since June 2003, according to the National Statistics Bureau on Wednesday.

Related: Growth in China’s Retail Sales Slides to Near 16-Year Low

Share this article
Open WeChat and scan the QR code