Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Like the U.S., China Has Its Own College Admissions Problems
After Food Scandal, New Rule Requires School Officials to Dine With Students
People’s Daily Head Leaves for High-Level Position at Beijing’s Liaison Office in Hong Kong
LATEST
China to Draft Value-Added Tax Law This Year
China Construction Bank Names New President
China High-Level Economic Forum to Focus on Opening Up
China Telecom to Invest 9 Billion Yuan in 5G This Year
People’s Daily Head Leaves for High-Level Position at Beijing’s Liaison Office in Hong Kong
Xiaomi Swings to Profit Amid Lackluster Smartphone-Industry
After Food Scandal, New Rule Requires School Officials to Dine With Students
Like the U.S., China Has Its Own College Admissions Problems
Swine Flu Prevention Moves to the Slaughterhouse
China’s Securities Watchdog Receives 22 Fund Applications Targeting High-Tech Board
Stock Nosedives for Shenzhen Software Company After Activist Dubs It Bubble
Teenage Son Kills Mother to End Her ‘Harsh’ Discipline
China’s New Nasdaq-Style High-Tech Board Starts Taking Applications for IPOs
Chinese Dairy Leader Purchases New Zealand’s Major Milk Supply Co-Operative
New Income Tax Law Takes Bite From Government Coffers
Xi’an Bucks National Real Estate Trends as New-Home Prices Keep Rising
ByteDance Ventures Further Into Gaming Market
'Missiles' Are Shooting Trouble Into China’s Underground Lending Market
Popular WeChat Account Valued at 2 Billion Yuan Snapped Up By Education Firm
China Increases U.S. Treasury Holdings for Second Straight Month

By Mo Yelin / Jan 10, 2019 12:45 PM / Business & Tech

Photo: VCG

Photo: VCG

Sales in the world’s largest auto market fell 5.8% to 22.35 million units last year, the China Passenger Car Association (CPCA) said Wednesday. This is the first annual decline in at least two decades.

Major carmakers have been caught in the headwinds of the overall market slump. On Monday, General Motors said it sold 3.6 million vehicles in China in 2018, falling nearly 10% year-on-year.

On Wednesday, a top economic planning official said China will roll out new measures to support consumer spending on popular products that include cars. Analysts expect such measures could include tax cuts.

CPCA expects car sales to rise about 1% this year.

Related: Auto, Appliance Stocks Jump After Official Pledges to Support Consumption

Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.