Chinese car sales fall for first time in more than 20 years
Trade war with US is handbrake on growth in world’s second biggest economy
Sales of cars in
China have dropped for the first time in almost 30 years, a sign of the importance of ending the country’s trade dispute with the US as the world economy begins to falter.
As the US and China appeared to be edging closer to ending the trade dispute between them on Wednesday, the figures illustrate how the bitter standoff, as well as sluggish local demand, have acted as a handbrake on growth in the world’s second biggest economy.
Passenger vehicle sales in mainland China dropped by
5.8% last year to 22.35m, according to the China Passenger Car Association, the first reverse in the world’s biggest car market since 1992
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Someone posted Chinese Auto Sales were 29M in 2017 a couple of days ago.
Maybe those include low speed neighborhood vehicles and/or tricycles and the above quoted by the Guardian does not?
Anyways, Chinese auto market at 22.35M vehicles at ~21k ASP is not bigger nor much more important than US market at 17.4M vehicles with ASP ~$37k. Yes, the luxury car market is still bigger in China than the US but the middle segment of cars is very small.
