CONF: China auto sales seen dipping by further 2% in ‘20
Dec 13, 2019 21:34
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China’s automobile industry is expected to witness further declines in 2020 as it enters a period of low-speed, high-quality development, with auto sales likely to dip by 2% from this year, predicted Shi Jianhua, deputy secretary general of China Association of Automobile Manufacturers (CAAM) at the Mysteel Bulk Commodities Week 2020 Special Steel Seminar on December 13.
Shi also expected that domestic auto sales for the whole 2019 would decline by some 8% on year. CAAM’s latest data showed that China’s auto sales reached 23.1 million units over January-November, representing a decline of 9.1% on year.
China’s automobile market is facing challenges from the slowdown in the macro