China car sales slow on oil prices

[phantom power]

BEIJING – The rapid growth in Chinese sales of sedans, SUVs and light trucks slowed sharply in July as sales rose just 6.8 per cent over the same month of 2007, the lowest monthly expansion rate in two years, an industry group reported Friday.

Sales of sedans rose by just 1.6 per cent, according to the China Association of Automobile Manufacturers.

It was the fifth straight month that sales growth has declined. Growth was at double-digit monthly rates early this year.

http://www.thestar.com/Business/article/479068