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The Chinese government has jump-started car sales in previous downturns, but this time looks different
China’s car market skidded off course this summer. Investors shouldn’t expect Beijing to set it back on track.
The world’s largest auto market could end up recording its first annual sales decline in at least a decade this year. Sales have dropped for three straight months. A rollback of tax cuts has deterred buyers, as have tight financing conditions following Beijing’s crackdown on shadow banking, especially in smaller and less-affluent cities.