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China’s car sales fall for first time in almost 3 decades

by ChemOrbis Editorial Team - content@chemorbis.com
  • 25/01/2019 (09:47)
According to data from China’s Association of Automobile Manufacturers (CAAM), China’s automobile industry faced greater pressure in 2018, amid the ongoing decline in the country’s macroeconomic growth rate, the trade war with the US and lower consumer confidence.

Data showed that auto sales marked the sixth straight month of declines in December with a decrease of 13% when compared to the same month of 2017. The latest monthly decline dragged the annual sales figure by 2.8% from a year earlier to around 28.1 million, the first fall since 1990.

In 2018, passenger vehicles sales fell by 4.1% to 23.71 million, while commercial vehicle sales were at 4.37 million, with a 5.1% increase.

CAAM also forecasted flat sales of 28.1 million vehicles for 2019.
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