Sales According to the China Association of Automobile Manufacturers (CAAM), vehicle sales in September 2013 surged 19.7% y-o-y, to 1,935,800 units, bringing sales for the first nine months of the year to 15,882,449 units, an increase of 12.7% y-o-y. Slowdown View Still There, Just Delayed While we had originally said that auto sales will suffer a slowdown in H213, as a slowing economy would hurt consumer sentiment, we now believe the slowdown in the car market will come in 2014 when the current economic bounce gives way. This is because as our Country Risk team crucially points out, this latest …
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