“The money is there, but people don't want to show off by driving around in a Rolls-Royce,” said a spokesman. 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 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 .