China’s passenger car sales barely rise in May

China’s passenger car sales rose 0.3% in May from the same month a year ago to 1.01 million units.  The figure represents a 6.1% decline from the previous month, according to the China Passenger Car Association said. The association attributed the month-on-month drop to higher fuel prices and parking fees, more stringent regulations for purchasing a new vehicle and reduced vehicle production by Japanese manufacturers which were disrupted by the March earthquake and tsunami. (June 9, 2011)