Chinese car market continued to fall in November

Sales of passenger cars fell by 5.4% and reached 2 million 057 thousand units in China in November. As the Chinese Association of Automobile Manufacturers noted (CAAM), the negative dynamics is recorded for the seventeenth month in a row against the backdrop of a slowdown in economic growth and trade disputes with the United States.

For 11 months of 2019, the Chinese car market fell by 10.5% to 19 million 231 thousand cars, by remaining the largest in the world. Volkswagen and its joint ventures sold 419,700 vehicles (+ 5.1%) in China in the previous month. Thus, the German automaker remains the leader in the Chinese market.

According to the CAAM forecast, in 2019, the Chinese car market may decline by about 8% in compare with the previous year, when 23 million 790 thousand cars were sold. At the same time, the Chinese authorities intend to take measures to stimulate car sales in the country.