In 2018 car sales fell by 5.8%. General Motors records 10% drop in sales. Among the causes there is the slowdown of the Chinese economy, tariff war between China and the US, the exhaustion of state subsidies.
Beijing (AsiaNews / Agencies) – China’s car sales fell for the first time in 20 years. According to the Chinese passenger car association (CPCA), in the world's largest car market, sales fell 5.8% last year.
The biggest companies selling vehicles in China - Ford, Volkswagen, Jaguar Land Rover and General Motors - all slowed down in the market. Three days ago, General Motors said it had sold 3.6 million cars in China in 2018, 10% less than the previous year.
Analysts cite the slowdown in the Chinese economy, but also the tensions arising from the tariff war between China and the United States as among the causes. It should also be said that the state incentives for the purchase of cars ended last year, reducing the number of consumers.
Yesterday, representatives for the government's economic plan said the state is thinking of new incentives to support the economy. There are also ways to help sell cars, such as tax cuts.
CPCA expects car sales to grow by 1% next year.