The Chinese auto market did not escape the curse of "sluggish July" and has suffered a sales slump of nearly 10 percent from June.
Already bloated inventories at automobile dealerships across China continue to swell, signaling slowing sales and mounting pressures on both dealers and automakers.
Already bloated inventories at automobile dealerships across China - the world's top vehicle market - continue to swell, signaling slowing sales and mounting pressures on both dealers and automakers, according to industry statistics.
Domestic automakers reported sharp profit declines in the first half of the year as vehicle sales slowed, and they will have a hard time meeting this year's sales targets.
Great Wall Motor Co, China's largest SUV producer, announced Wednesday that its first-half profit will jump 30.29 percent year-on-year.
The number of profitable auto dealerships in China dropped by 18 percentage points last year, according to a recently released survey by JD Power Asia Pacific.
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