UNITED STATES (OBSERVATORY NEWS)
Car sales in the Chinese market fell by 8.2 percent year on year in 2019, driven by lower demand for vehicles in domestic markets.
The China Automobile Manufacturers Association said on Tuesday that car sales in China continued to decline in 2019, an extension of the previous year, in a market considered the largest in the world.
The association stated that dealers sold 25.77 million cars in the Chinese market during 2019, down 8.2 percent, compared to a decrease of 2.8 percent in 2018 compared to 2017.
The decline in car sales within the Chinese market was attributed to the negative effects of trade tensions with the United States, the global economic slowdown, and the tightening of carbon emission standards.
And the Chinese news agency “Xinhua” reported on Tuesday that the decrease in passenger car sales increased by 9.6 percent year on year to 21.44 million units, while sales of new passenger cars fell 4 percent to 1.2 million units.
She stated that after a three-month transition period that ended on June 25, 2019, local governments stopped subsidizing purchases of new energy vehicles, unlike new energy buses and fuel cell vehicles, which led to a sharp drop in sales of new energy vehicles in the second half of 2019.
In 2020, the subsidy policy for the new energy vehicle sector will remain largely stable, according to Xinhua, citing the Ministry of Industry and Information Technology, adding that there will be no significant decline in subsidies.
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
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