China released car sales figures - market shrank for the second year in a row
Car sales data for 2019 were released on Monday, by the China Association of Automobile Manufacturers.
- total car sales down 8.2%
- from down 3% in 2018
For December 2019 sales were down m/m for the 18 straight months of declines.
The usual suspects cited:
- slowing economic growth
- trade war with the US
new emission standards introduced
- consumers hesitant to make big ticket purchases