Car sales slow in February

Industry data has revealed that auto sales in China continued to rise last month, although the rate of sales was down from January’s figures, the Wall Street Journal reported. Although sales growth has been put at 46.3% in February, with an estimated 1.21 million units sold, analysts believe that the February holiday contributed to lower overall sales. While consumers are keen to buy vehicles in the run-up to the Spring Festival, they are not during the week-long break itself. Others point out that the market is likely to cool down this year, as government incentives begin to wear off. Analysts expect growth in China’s auto market to slow to 10% or 15% for the full year.