BEIJING – China’s auto gross sales fell for an eighth month in January, extending a painful decline for the largest international market.
An trade group, the China Affiliation of Car Producers, says purchases of sedans, SUVs and minivans fell 15 p.c from a 12 months earlier to simply over 2 million autos.
Auto demand has weakened as Chinese language financial progress cooled and a tariff battle with Washington fueled uncertainty amongst consumers.
The droop is a setback for international automakers that need to China to drive income.
Gross sales by Chinese language manufacturers fell 22 p.c whereas international manufacturers gained market share.
Purchases of electrical and hybrid autos, which Beijing is selling with subsidies, rose 138 p.c over a 12 months earlier to 96,000 models.