The world is applauding the latest Chinese vehicles and sales are surging almost everywhere the cars are available. The one exception: China itself.
New-car sales in China, the world’s largest new-vehicle market, fell 22% in May compared with the same month a year earlier to around 1.5 million vehicles. That was the eighth straight month of year-over-year declines, according to the China Passenger Car Association. Year-to-date car sales are running nearly 20% below last year, hitting profits at the country’s leading carmakers.
