China’s automobile sales fell in February from a record high in January mainly due to holiday factors, new data showed on Monday. Sales amounted to 1.6 million units last month, down 25.97 percent from 2.16 million units in January, the China Association of Automobile Manufacturers (CAAM) said in a statement. Production dropped 20.18 percent from a month earlier to 1.64 million units, the statement said. The association attributed the drops mainly to distortion from the Spring Festival holiday, which ran from Jan. 31 to Feb. 6. On a year-on-year basis, the auto industry maintained strong growth, with sales up 17.84 percent and production surging 21.53 percent. In the first two months of the year, automobile sales rose 10.73 percent from a year earlier to 3.75 million units and production increased by 11.38 percent to 3.69 million units, the CAAM said. China has been the […]