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Market: CAAM predicts China’s 2019 auto sales to dip 5%

China Association of Automobile Manufacturers (CAAM) has revised its expectation on 2019 auto sales to a 5% year-on-year decline instead of a flat year from 2018 because of the weaker-than-expected performance in the sector in the first half, market sources confirmed on Tuesday.
CAAM, thus, estimated the country’s auto sales to fall to 26.68 million units for 2019, down from nearly 28.08 million units in 2018, while it still expects the sales of new-energy vehicle (NEV) to grow 19.4% on year to 1.5 million units, though projection is also lower than the earlier


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