3 days agoCar sales in China drop for the first time in 20 years
Periskopi(7 years ago)
(7 years ago)Car sales in China, the world's largest automotive market, have seen their first annual decline in 20. Sales dropped by 6% to 22.7 million sectors in 2018, according to China Passenger Car Association (CPCA). In December, sales decreased by 19.2 %s compared to the same period a year [...]
Sales dropped by 6% to 22.7 million sectors in 2018, according to China Passenger Car Association (CPCA).
In December, sales decreased by 19.2 %s compared the same period a year ago, the CPCA said.
The decline comes in the midst of a slowdown in China's economy, as the trade struggle with the US shaken consumer confidence.
The decline in trade has hit China's production sector, which contracted last month for the first time in more than two years, according to official data.
The decline in exports has strengthened the need for Beijing to rely on internal conusmers to boost the economy.
Foreign car producers such as Ford, Volkswagen, Jaguar Land Rover and General Motors have reported sales cuts in China in recent months.
