The automobile production and sales in China has dropped 4.4 per cent in May from April this year, marking the second month-on-month decline in a row in the world`s biggest automobile market, an industry group said today.
The government on Friday removed restriction on imports of hot-rolled steel, which is mainly used in the automobile and consumer durable industries, giving a big relief to these sectors from rising raw material prices.
China, aspiring to be the world`s
top auto maker, has established the country`s first automobile
wind tunnel in Shanghai, signalling a major breakthrough in
indigenous vehicle development and production.
Passenger car exports from India grew by 22.44 percent in July, riding on the back of a scrappage programme by some European countries which incentivised buying of new cars in exchange of the old ones.
The domestic passenger car segment grew for the sixth consecutive month with July sales posting a robust 30.91 percent jump on account of low-base during the same month last year, which is expected to fuel the momentum for the next 2-3 months as well.