Chinese auto production and sales fall double-digits in July
Both production and sales in the Chinese auto industry fell sharply in the month of July. The Detroit News reports that total vehicle output fell 10.7% from the prior month to 444,900 units while sales of domestically produced vehicles also fell 16% to 433,200 units. What could so drastically derail the fastest growing automotive market in the world? Hot weather and electricity shortages. While electricity is, you know, pretty important when you're building vehicles, we're a little unclear how hot weather could play such a large role in the drop off. Regardless, sales in China are still expected to grow 10% this year over last year.
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