Figures out from the China Association of Automobile Manufacturers ( CAAM ) states that nationwide auto sales declined 16.6 % in July , making it the fourth straight month - on - month decline in sales for the industry in China . Even luxury brands , such as Audi and BMW declined 7 % and 6.2 % respectively in July YoY , making it the first such decline ever in China for these luxury German brands . In response , some have raised prices or cut sales targets , whilst protests have begun in the Hangzhou and Beijing areas . The situation will be addressed by new regulations in September from the Ministry of Industry , along with government plans to revise the rules for auto dealerships .
Figures out from the China Association of Automobile Manufacturers (CAAM) states that nationwide auto sales declined 16.6% in July, making it the fourth straight month-on-month decline in sales for the industry in China. Even luxury brands, such as Audi and BMW declined 12.5% and 6.2% respectively in July YoY, making it the first such decline ever in China for these luxury German brands. In response, some have cut prices or cut sales targets, whilst closures have begun in the Hangzhou and Beijing areas. The situation will be exacerbated by new regulations in September from the Ministry of Transport, along with government plans to revise the rules for auto dealerships.