China’s Auto Market Hits Autumn Chill as Buyers Retrench

China’s domestic passenger car retail sales tumbled 28% year-on-year in September to 1.62 million vehicles, marking the steepest monthly decline of the year as the industry’s traditional peak season failed to materialize.

The sharp decline underscores entrenched consumer caution that aggressive price discounting and a steady stream of new model launches have failed to reverse. While surging vehicle exports continue to cushion overall production, foreign shipments have not fully compensated for cooling demand at home.