China's passenger vehicle sales continue to drop in November
China's passenger vehicle sales logged a fifth-month decline in November amid tepid demand, data from an industrial association showed.
The retail sales of passenger vehicles stood at 1.94 million units last month, down 4 percent year on year, putting the slip in the first 11 months at 8 percent, according to the China Passenger Car Association.
While November sales registered a 6-percent monthly rise, the CPCA said the seasonal rebound was weaker than usual due to low consumer confidence.
Wholesale of new energy passenger cars shrank by 42 percent year on year last month and climbed 15 percent from October.
The association expected the market to warm up faster in December as first-time car buyers are likely to make the purchase before the Chinese New Year.