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China's car sales shrink 2.9% in June as big-ticket spending falters
China's passenger vehicle sales fell in June, data from the China Passenger Car Association (CPCA) showed on Monday, as a stumbling economic recovery led to more consumer caution on big-ticket spending. Car sales in June totalled 1.91 million units, down 2.9 per cent from last year, CPCA data showed. It was the first monthly contraction since January. However, sales advanced 2.5 per cent to 9.65 million units in the first half of the year. Meanwhile, sales of new energy vehicles (NEVs), including pure battery electric cars and plug-in hybrids, jumped more than 25 per cent in June, accounting for roughly 35 per cent ... (full story)