Submitted by Taps Coogan on the 13th of April 2019 to The Sounding Line.
Enjoy The Sounding Line? Click here to subscribe.
The following text and chart are via Statista.com:
Despite more room for growth, the Chinese passenger car market has been slumping. Sales from manufacturers to dealers have been down for three months in a row and eight months year-on-year, according to the Chinese Association of Automobile Manufacturers. Sales to consumers have been down ten months in a row year-on-year, according to the Chinese Passenger Car Association.
The trade war with the U.S. and the overall slowing of the Chinese and global economies have taken their toll on consumer confidence in China. Cars are especially affected, being the only consumer product experiencing shrinking demand in both January and February of 2019.
There are currently 200 million private vehicles in China, leaving room for potential growth. In February, the latest month on record, about 55% of passenger cars sold in China came from foreign manufacturers and 45% from Chinese brands.
You will find more infographics at Statista
If you would like to be updated via email when we post a new article, please click here. It’s free and we won’t send any promotional materials.