China Vehicle Sales Growth Expected to Stall This Year: Xinhua
China Vehicle Sales Growth Expected to Stall This Year: Xinhua
(Bloomberg) -- Automobile sales will be about around 28.1 million units this year, unchanged from 2018, the official Xinhua News Agency reports, citing a report released by the China Association of Automobile Manufacturers and other unidentified parties.
Recent data showed China’s car sales plunged for an 11th month in April, with little relief in sight for automakers as trade tensions and an economic slowdown weigh on demand.
Sales of passenger vehicles will be about 23.7 million units, in line with last year, Xinhua reported.
New-energy vehicle sales this year are expected to rise about 27% to 1.6 million units this year, the report said.
To contact Bloomberg News staff for this story: Li Liu in Beijing at lliu255@bloomberg.net
To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Stanley James
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