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China June car sales dip for first time in 2 yrs

Monthly passenger vehicle sales in China fell in June for the first time since June 2013, a bleak sign for the world's largest car market and second largest economy amid a stock market rout.

Vehicle sales were 1,429,676 in June, down 3.2 per cent year-on-year, according to the China Passenger Car Association.

Carmakers had already braced themselves for an era of slower growth amid a broader economic showdown in China, as well as an official clampdown on corruption and lavish shows of excess.

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