China's auto sales dip 5% in August, down for 3rd straight month

Decline reflects lackluster consumer spending, but new energy vehicles fare well

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New energy vehicles draw consumers at an event in Chengdu, China, on Aug. 31. (Photo by Shizuka Tanabe)

SHIZUKA TANABE, Nikkei staff writer

GUANGZHOU -- Chinese sales of new automobiles, including exports, declined for the third straight month in August, industry data released Tuesday shows, as domestic demand for passenger cars fell amid weak consumer spending.

Sales of electric cars and other new energy vehicles (NEVs), however, were relatively strong, accounting for more than half total passenger auto sales.

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