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China's auto sales decline for fifth consecutive months

2018-11-10 21:23| 发布者: 德玛西亚| 查看: 104| 评论: 0|来自: 重庆桑拿网

摘要: Thanks to strong demand for high-end models such as Toyota Lexus and SUVs, Toyota and Daimler are among the few companies able to maintain sales growth in China this year.

In October, sales of Chinese cars, multi-functional vehicles and sports utility vehicles dropped by 13.2% to 1 million 980 thousand vehicles. China's auto sales in the first ten months of 2018 dropped by 2.5% to 18 million 400 thousand vehicles.

China's auto sales fell for the fifth consecutive month, bringing annual sales in the world's largest market to close to the first decline in at least two decades, and putting pressure on automakers, Bloomberg reported.

China Passenger Vehicle Association said Thursday that sales of cars, multi-purpose vehicles and sport-utility vehicles in China fell 13.2% to 1.98 million last month. China's auto sales in the first ten months of 2018 dropped by 2.5% to 18 million 400 thousand vehicles.

This adds to the pressure faced by automakers, who already face negative factors such as declining profits and weak sales growth. Even Volkswagen Motor Corp., China's largest automaker, has cut its sales forecast in the Chinese market as demand for large consumer goods such as automobiles has fallen.

Carmakers have spent billions of dollars over the past 20 years expanding Chinese factories, and the decline in sales in the Chinese market has forced the industry to seek growth elsewhere in the world. With the increasing popularity of car sharing and ride services, the demand for personal car purchases has declined, and car sales in the United States and Europe are weakening.

Moreover, China's new emissions regulations force automakers to increase spending on electric vehicles to avoid penalties. The rapid transformation of the auto industry to the automatic driving function and the fully automatic driving vehicle further aggravates the demand of vehicle enterprises.

Wu Wei, an official of China's National Development and Reform Commission, said Wednesday that China's total auto sales will remain below 30 million vehicles this year and may decline from 2017. Last year, the number of vehicles delivered by Chinese dealers was 28 million 900 thousand, an increase of 3% over 2016.

Last month, people familiar with the situation said that in order to stimulate demand, the China Development and Reform Commission had proposed to halve the purchase tax on cars with engines not exceeding 1.6 litres. But they said that no decision has been made.


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