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China's car sales fall for 2nd month in July as price war continues
China's passenger vehicle sales fell for a second month in July, as discounts and government support measures failed to persuade consumers wary of buying cars amid a sputtering economy and a prolonged slump in the housing market. Automakers are concerned about a demand slowdown as the world's second-largest economy loses its post-pandemic bounce. Car sales totalled 1.79 million units in July, down 2.6 per cent from last year, data from the China Passenger Car Association (CPCA) showed, the second contraction in a row after a 2.9 per cent slide in June. Still, for the first seven months of the year, sales were up 1.7 ... (full story)