China’s auto sector is conservative with sales forecasting a 2% decline in 2020


The country’s largest auto maker said on Monday that car makers in the country have to get used to a new normal of “slow growth” in the world’s largest auto market, reaffirming forecasts that sales will fall in 2020 for the third year. Respectively.

The China Automobile Manufacturers Association expects a 2 percent drop in car sales. This comes compared to a decrease of 8.2 percent last year when sales were pressured by new emission standards in a shrinking economy, which also suffers from an exchange of import duties with the United States.

The union also mentioned, confirming its prediction announced last month, that sales were declining in December for the eighteenth month in a row.

Annual sales began to decline in 2018, by 2.8 percent, stopping a growth trend that started in the 1990s.

Sales of cars operating with new energy sources decreased by 27.4 percent in December, which led to a total decline of 4 percent to 1.24 million units in 2019. Sales of these cars jumped in 2018 by 62 percent, but the reduction in subsidies hurt sales last year. .

Ford said on Monday that its sales in China had fallen by more than a quarter in 2019, declining for the third year in a row. But the latest decline is slower than a 37 percent decline in 2018.


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