China Could Experience Decline In Car Sales For The First Time In 30 Years

For nearly three decades, the Chinese new car market was growing, to the point that, in 2009, it surpassed the U.S. and became the largest in the world.

According to Reuters, however, deliveries fell by 11.7 percent in October, which might lead to the first annual decline since 1990.

The China Association of Automobile Manufacturers (CAAM) anticipated a 3 percent increase compared to last year. It, however, announced that from January until the end of October, cumulative sales numbered 22.87 million, a reduction of 0.1 percent compared to the same period in 2017. Moreover, 2.38 million vehicles were sold in October, marking the fourth month in a row of shrinking sales and the largest drop since 2012.

“Things don’t look good all the way to the end of the year, because of weakness in the market and the high base for comparison from last year”, head of Shanghai-based consultancy firm Automotive Forsight, Yale Zhang, said.

He added that he is waiting to see if automakers will take any measures to boost sales and reverse the current trend: “If the OEMs give up, then sales volumes could be really bad”.

The trade war with the U.S. and the increased tariffs that were imposed also played a role in this decline. Reuters claims that a number of dealers are currently offering big discounts to attract customers and that they are leaning on the government to significantly reduce purchase tax on small cars.

The good news is that sales of electric vehicles and PHEVs in the first 10 months were up by 75.6 percent, to 860,000 units, compared to the same period last year.

more photos...
  • Bash

    Side note.
    Is that some sort of a Chinese Lincoln continental, coz it looks good actually.

  • Great news

  • Leconte Dave

    Poor Ford lol

  • LJ

    Chinese cars look like the generic models from Grand Theft Auto.

Tesla Model 3 Deemed A Write Off After Slamming Into Mercedes C-Class

The driver of the Merc slowed down for a pedestrian, then turned right in front of the oncoming Tesla.

Old Jeep Grand Cherokee Pickup Conversion Is Poor Man’s Gladiator

This improvised double-cab pickup truck started life as a first-generation Grand Cherokee ZJ.

GSX-R 1000-Powered, 190 HP Honda N600 Is A Baby Hoonitruck

Ken Block’s ride has inspired this heavily customized, and very fast, Japanese kei car.

2020 GMC Sierra Denali HD Shows Its Face In First Teaser Image

The redesigned truck should have a new Duramax turbodiesel engine with 910 lb-ft of torque.

Nissan Celebrates The AWD Altima By Giving It Tracks

The one-off Altima has been equipped with a Dominator track system that enables it to conquer the worst mother nature can dish out.

Are We In The Golden Age Of Badge Engineering?

BMWs masquerading as Toyotas is just the tip of the iceberg.

2020 BMW M3 Could Get A “Pure” Variant With RWD And Six-Speed Manual

Aimed at enthusiasts, the M3 Pure could have a twin-turbo engine with 454 hp.

Ford Confirms Plans For An Electric F-150

The F-150 is going electric to ensure the model remains the best-selling truck in America.

Volvo V40 Going Out Of Production Later This Year, Could Be Replaced By A Crossover Coupe

The V40’s replacement is expected to be a sportier version of the XC40 crossover.

C8 Corvette And Mustang GT500 To Share The Same Dual-Clutch ‘Box?

Despite their different layouts, a newsletter sent to a Tremec supplier suggests just that.