01/10/2019, 09.10
Send to a friend

Beijing car sales drop for the first time in 20 years

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.

Send to a friend
Printable version
See also
Chinese exports to US fall 20.7% in February
08/03/2019 10:26
In a war between China and the United States, China would lose and the Party fall
22/10/2018 11:02
Beijing unlocks sorghum imports and offers a 200 billion cut in trade with the US
18/05/2018 09:59
US tariffs on 1300 Chinese products. Beijing promises 'equivalent measures'
04/04/2018 09:58
Stock markets plummet over Beijing and Washington’s 'trade war’
23/03/2018 09:44


Subscribe to Asia News updates or change your preferences

Subscribe now
“L’Asia: ecco il nostro comune compito per il terzo millennio!” - Giovanni Paolo II, da “Alzatevi, andiamo”