Skip to content
Subscriber Only

China's Car Market May Contract This Year, Official Warns

A Chinese government official has sounded the most direct warning yet about the nation’s slumping car industry.

China’s vehicle sales will come in under 30 million units this year and may even fall below the number in 2017, Wu Wei, a divisional director under China’s top economic planning body, said Wednesday. Companies shouldn’t expand production capacity blindly, and instead should focus more of their investments on research and product development, according to Wu.