Sales of passenger vehicles in China were up 11% in July as new assembly plants have opened and as dealers cut prices to clear out inventory before 2014 model year cars start arriving. The state sponsored China Association of Automobile Manufacturers says that wholesale deliveries of automobiles, SUVs and multipurpose vehicles were up to 1.24 million units in July, beating analysts’ expectations. Among the companies that have opened up assembly plants this year in China are Ford, PSA Peugeot Citroen and Chinese owned Volvo. (Read More…)
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