China's First Car Sales Dip in 3 Decades Stirs Stimulus Talk
- Stalling growth engine poses risk to world’s auto makers
- Beijing planning steps to revive demand, official has said
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China vehicle sales fell for the first time in 28 years, raising the prospect of a government-led stimulus to revive demand in the world’s biggest auto market as consumers from Europe to U.S. balk at buying new cars.
Deliveries of passenger vehicles to dealers fell 4.1 percent to 23.7 million units last year, the China Association of Automobile Manufacturers said Monday. It forecast little growth in 2019. Last week, data from the China Passenger Car Association revealed a 6 percent drop in retail sales. Shares of local carmakers dropped in Hong Kong.