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Auto Sales Rise at a Slower Pace in China

By Market News Video Staff, Friday, September 9, 11:03 AM ET
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Auto sales in China rose last month, although growth is no longer at the pace it was a year or two ago.

Passenger car sales rose 7.3% in August, compared to August 2010, to 1.1 million vehicles, the China Association of Automobile Manufacturers said.

Total vehicle sales rose 4%, to 1.38 million units.

Total passenger car sales rose about 6% for the year from January through August.

A check of auto maker stocks, all of whom are trying to tap China’s growing consumer base: Ford (NYSE:F) shares are trading down 1.6% Friday, while GM trades lower by 0.85%.

Toyota (NYSE:TM) is trading down 1.5%, and Honda (NYSE:HMC) is trading down 2.4%.

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