Auto sales in China down 15.8% y/y in Jan 2019

Auto sales in China went down by 15.8% on an annual basis to 2.367 million vehicles, Shanghai Daily reported referring to data provided by the China Association of Automobile Manufacturers. Over the month, output slipped by 12.1% on the year to 2.365 million units.

Passenger car sales dropped by 17.7% on the year 2.02 million units, booking a decline for the seventh month in a row. According to analysts, the decrease may be attributed to the Spring Festival holiday as consumers always delay their purchases for the time after the festivities.

Furthermore, the declining trend is expected to continue in February due to the country’s slowing economy combined with a narrowing demand in smaller cities, Shanghai Daily noted.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: Shanghai Daily