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Decades of Growth at Risk as China Car Sales Keep Dropping

  • World’s largest market faces first annual decline in 2 decades
  • Economic woes, popularity of ride sharing weighing on demand
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Car sales in China plunged for a sixth consecutive month, intensifying pressure on global automakers that have staked their future growth on the world’s largest auto market.

Retail sales of sedans, multipurpose vehicles and sport utility vehicles plummeted 18 percent to 2.05 million units in November, the China Passenger Car Association said on Monday. That brought the drop in the first 11 months of the year to 4.3 percent, all but ensuring the market will have its first annual decline in at least two decades.