Chinese automotive sales slow down

Beijing--Sales of saloon cars to the Chinese 'middle classes' have slowed dramatically, according to a report in the Shenzen Daily newspaper. The long report analyses the history of the boom-bust cycle of mid-sized vehicles, and the related stock market prices.

The "usual mistake is to extrapolate the initial trend of high prices and growth into 1.3 billion people," said Andy Xie, Morgan Stanley's Hong Kong-based chief economist for Asia, quoted in the report.

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Shenzen Daily (China) story