China Slashes Vehicle Sales Forecast to 3% Amid Stocks Rout
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China slashed its forecast for vehicle sales in the world’s largest market, projecting deliveries to expand at the slowest pace in four years amid a stock-market rout that threatens to dent consumer sentiment.
Total vehicle deliveries including trucks and buses will probably rise by 3 percent this year, down from the 7 percent projected in January, the China Association of Automobile Manufacturers said Friday. That would be the smallest increase since 2011, when the government unwound stimulus measures unleashed in the wake of the global financial crisis.