BEIJING — China's passenger car sales fall 18% from June to July as consumer confidence in the local automotive market wanes. The state press reports that 42,800 cars were sold nationwide in July, representing the third consecutive monthly decline. The state is interpreting the slide as an indication to take yet another swing at stimulating consumption. Massive government spending in 1998 kept the automotive market afloat through the early part of this year. Industry analysts predicted ...

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