Auto industry cautious as China starts 2020 with forecast of a 2% sales decline

BEIJING/SHANGHAI - Automakers in China need to get used to a new normal of “low speed growth” in the world’s largest car market, the country’s top auto body said on Monday, as it reiterated predictions that sales will likely shrink for the third consecutive year in 2020.

The China Association of Automobile Manufacturers expects a 2% fall in vehicle sales. That would compare with an 8.2% drop last year, when sales were pressured by new emission standards in a shrinking economy also contending with tit-for-tat import tariffs with the United States. Industry watchers, though, are hoping a sales recovery in lower-tier cities, and an easing of trade tensions between China and the United States, can help ease the decline.

“We had high-speed growth for a consecutive 28 years, which was really not bad, so I hope everyone can calmly look at the market.”

Wonder how that will translate for TESLA ?

In the video: First thing I notice is the pollution in China.

Please don't. Go on with sheer detachment of finance.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Auto industry cautious about China's sluggish market at start of decadeChina's auto market is likely to shrink for the third year in a row in 2020... Who the hell cares about the Evil Empire of China!! They are slaughtering protesters in Hong Kong and committing genocide against the Uyghur’s. HKProtests China_is_terrorist The AutomotiveIndustry doesn’t give a crap about the HumanRightsViolations occurring by the CCP China's auto Industry is just fine. But the definition of auto, has shifted to EVs. You don't sell EVs, you go bankrupt, it's that simple. 👍
Source: Reuters - 🏆 2. / 97 Read more »

Amazon announced 2 automaker partnerships for Alexa Auto platform - Business InsiderAmazon made announcements that illustrate its strategy to expand access to consumers through Alexa Auto — including new automaker partnerships.
Source: BusinessInsider - 🏆 729. / 51 Read more »