For the first time in 28 years, car sales have fallen in China

For the first time in 28 years, car sales have fallen in China

January 16, 2019 0 By autotimesnews

In the past year, 23.79 million units of new passenger cars were sold in China, which is 4.1% lower than in 2017.

For the first time in 28 years, the automotive market of the Celestial Empire showed negative growth, and this is mainly due to the trade war with China, as well as a slowdown in economic growth.

In addition, since 2018, China has increased by 10% the tax on the purchase of new cars with an engine capacity of up to 1.6 liters – this decision was made as part of the struggle of the Chinese authorities to pollute the environment and reduce harmful emissions.

In any case, China remains the largest automotive market in the world, and its leader in 2018 was the Volkswagen group, which sold more than 4.2 million new cars. VW is one of the few companies that managed to raise sales by 0.5% amid the crisis.