China’s Car Sales Drop By More Than 8%
CHINESE CAR SALES SHRINK FOR SECOND YEAR IN 2019
(CNN) – The Chinese auto market slump continues, with sales falling more than 8% in 2019.
The December numbers marking 18 straight months of decline.
The sales crisis was exacerbated last year by weak economic growth, the trade war with the United States, and tough new emission standards introduced in the summer.
Next year looks a little bit better, but sales are still expected to decline 2%.
The China Association of Automobile Manufacturers projected last month.
Analysts and carmakers are bracing for more pain.