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Newswire

China July Vehicle Sales Tumble 7.1%

BEIJING, Aug 11 (Reuters) - Auto sales in China fell 7.1 percent in July from a year earlier to 1.5 million vehicles, their biggest decline since February 2013, an industry association said on Tuesday.

That compares with a 2.3 percent drop in June and a 0.4 percent decline in May. Sales have now fallen for four straight months, their longest losing steak in at least five years, highlighting the downward pressure on the market as the economy slows.

Sales increased 0.4 percent in the first seven months of 2015 compared to a year earlier, the China Association of Automobile Manufacturers (CAAM) said at a news briefing in Beijing.

Last month, CAAM slashed its 2015 growth forecast for auto sales to 3 percent from 7 percent at the beginning of the year, saying China's stock market slump helped to depress demand for cars. (Reporting by Winni Zhou and Jake Spring; Editing by Kazunori Takada)