The market decline has been ongoing for fifteen consecutive months. According to experts, the reasons are the economic slowdown and trade disputes with the United States. Sales volumes were also affected by the fact that in fifteen Chinese cities and provinces, new environmental standards were introduced ahead of the schedule set by the central government.
In the first nine months of 2019, the volume of the Chinese auto market decreased by almost 12 percent, amounting to 15.2 million units.
Nevertheless, China still holds the position of the world's largest automobile market. According to CAAM estimates, by the end of 2019, the sales decline could reach five percent compared to the previous year, when 23 million 790 thousand passenger cars were sold.
