New car sales in China fell 13.8% in February from the same month a year earlier, the country's biggest auto industry association said on Monday. This marks the eighth consecutive month of decline in the world's largest auto market.
The China Association of Automobile Manufacturers (CAAM) said sales fell to 1.48-million vehicles, following declines of 16% in January and 13% in December. New-energy vehicle sales, in contrast, rose 53.6% year-on-year in February, it said.
The figures come as China plans billions of dollars in tax cuts and infrastructure spending to support an economy growing at its slowest pace in almost 30 years due to softer domestic demand and a trade war with the US.