Chinese car market remains the largest in the world for the year

Chinese car market remains the largest in the world for the year

January 27, 2020 0 By autotimesnews

The Chinese car market last year was marked by a recession, which somehow affected the global automotive industry. Despite this, China managed to retain the title of the largest car market in the world.

Car sales in China, according to experts, fall for the second year in a row. For almost ten years, this country has not complained about car sales, but the trend has changed, hitting many automakers. So, last year, car sales in the Celestial Empire “sank” by 9.6%, reaching the mark of 21 million 444 thousand copies, writes “AUTOSTAT” with reference to estimates by the China Association of Automobile Manufacturers (aka CAAM).

Experts attribute the negative sales to the recession in economic growth and the trade war between China and the United States, which escalated in 2018.

 All this, however, does not prevent the “heavenly” car market for the 11th consecutive year to receive the right to be called the largest automobile market in the world. As for forecasts for 2020, CAAM specialists expect a two percent decline in automobile sales. At the same time, the Chinese authorities declare their readiness to take operational measures that would help revive the sale of cars.

Recall that earlier the results of sales for 2019 were shared by Great Wall Motors. Interestingly, brand sales exceeded 1,000,000 cars for the fourth year in a row.