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Auto sales in China are expected to drop 2% in 2020
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Auto sales in China are expected to drop 2% in 2020
BEIJING/SHANGHAI — Automakers in China need to get used to a new normal of 'low speed growth' in the world's largest car market, the country's top auto body said on Monday, as it reiterated predictions that sales will likely shrink for the third consecutive year in 2020. The China Association of Automobile Manufacturers (CAAM) expects a 2% fall in vehicle sales. CAAM, affirming its forecast announced last month, also said auto sales declined for the 18th consecutive month in December.
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