China's auto output sales weak

China's automobile production and sales grew negligibly in the first seven months of 2015.

Auto production rose 0.8 percent year-on-year to 13.6 million vehicles in the first seven months, while sales increased 0.39 percent to 13.3 million, Xinhua reported citing the China Association of Automobile Manufacturers (CAAM).

The first seven months' growth decelerated remarkably from that for the January-June period of 2.64 and 1.43 percent, respectively.

CAAM attributed the slower growth mainly to the fall in commercial vehicle output and sales.

In July alone, auto output and sales declined by 11.8 percent and 7.12 percent year on year to reach 1.52 million and 1.5 million vehicles, respectively, marking the third consecutive month of year-on-year decline.

The economic slowdown, competition and purchase quota policies in first-tier cities were cited as reasons for the contraction.