Auto industry cautious about China's sluggish market at start of decade

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BEIJING/SHANGHAI: China's auto market is likely to shrink for the third year in a row in 2020, the country's top auto body is expected to say on Monday, but industry watchers are cautiously hoping a sales recovery in lower-tier cities ease the pace of decline.

The drop in car sales is expected to be milder than last year, when sales were pressured due to new emission standards in a broader economy that was both shrinking and under attack amid a trade war with the United States.

But global automakers have been cautious with their predictions after cutting back production, shutting factories and firing staff last year. This fall, however, was slower than the 37% drop in sales Ford weathered in 2018 and the company said it saw its market share in the high-to-premium segment stabilise last year.

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