AsianFin -- China’s passenger car sales rose for a fourth consecutive month in May, though the pace of growth slowed, underscoring growing concerns over intense price competition in the world’s largest auto market.

Sales climbed 13.9% year-on-year to 1.96 million vehicles, easing slightly from April’s 14.8% gain, according to data released Monday by the China Passenger Car Association. Major automakers are grappling with shrinking margins as discounting intensifies across the industry.