By Selina Cheng
HONG KONG -- China's passenger car retail sales in November dropped 9.2% from a year ago amid slumping demand, as the nation grappled with a slowing economy under harsh Covid curbs that Beijing has recently started easing.
China's car makers and dealers sold 1.65 million passenger cars in November, down 10.5% from October, according to data released by the China Passenger Cars Association on Thursday.
Despite an almost 15% growth in automobile production for the 11 months to November compared with a year earlier, production for the month was down 9% from October.
Car retail sales were "much lower than what we expected," CPCA Secretary-General Cui Dongshu said, adding that "it's a very serious situation." Manufacturers slowed down production as a result, with some making relatively significant adjustments, he said.
Tesla Inc.'s Shanghai factory broke its record and delivered 100,291 electric vehicles last month.
Write to Selina Cheng at selina.cheng@wsj.com
(END) Dow Jones Newswires
12-08-22 0427ET