China passenger-car sales fall 23.6% in August as EVs expand
China’s passenger-car retail sales fell 23.6% year over year to 1.54 million units in August, as the industry shifts focus toward EVs and exports amid high oil prices and subdued domestic demand.
China's auto market remained under pressure in August as the industry shifted its focus to electric vehicles and exports, with high oil prices and subdued domestic demand weighing on sales. 54 million units in August, data from the source showed.