China Vehicle Sales to Fall for Third Year in 2020, Industry Group Says
- Historic slump continues, though pace of drop is slowing: CAAM
- Carmakers awaiting for rebound in world’s biggest market
A car showroom in Qingdao, China.
Source: AFP
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China’s vehicle sales will decline for a third straight year in 2020, an industry body predicted, bringing more pain to global carmakers awaiting an end to the historic slump in the world’s biggest market.
Sales will fall 2% to 25.3 million units in 2020, the China Association of Automobile Manufacturers predicted Thursday. That follows a drop of about 3% last year -- the first decline in decades -- and about 8% this year.