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Chinese car sales are falling for thirteenth month in a row

2019-08-12T13:16:41.408Z

Car sales in China, the largest car market in the world, have fallen for the thirteenth month in a row, reports the Chinese trade association for car manufacturers on Monday. On an annual basis, sales fell by 4.3 percent last month.



Car sales in China, the largest car market in the world, have fallen for the thirteenth month in a row, reports the Chinese trade association for car manufacturers on Monday. On an annual basis, sales fell by 4.3 percent last month.

Sales declines of 9.6 percent and 16.4 percent respectively were already reported in June and May. The Chinese would buy fewer cars due to slowing economic growth and a trade dispute with the United States.

According to the Chinese trade association, sales will fall by 5 percent this year.

Due to the malaise, Chinese companies have adjusted all their sales and profit expectations. But other manufacturers such as the PSA Group, known from Peugeot, were also forced to adjust the workforce and the factories in China.

Source: nunl

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