China automobile market sales keep decreasing, strengthening automakers difficulties

Published:

On: Aug 2019

Based on the daily market report, the automobile deliveries of the China are still continued to decrease last month, along with enlarging the historic decline of the market. According to the news, it’s said that, the automobile market sales of China reduced for 13th consecutive month.

In the Chinese automobile field, the sales of sport utility vehicles, sedans, minivans as well as multipurpose vehicles in the month of July dropped almost 3.9 per cent from a year earlier to around 1.53 million units, as reported recently by the automobile manufacturers association of the China.

The first car of China flop in a generation is rapidly indicating no signs of reduction due to the economy of China faces a huge downturn as well as tougher emissions rules and not to forget the on-going USA and China trade war weigh on demand.

The Chinese carmakers that reckon on the one of the largest auto market of the world for the annual growth for decades, streaming billions of dollars into the nation, are recently concerning regarding the future investment decisions.

The United States of America, president Donald Trump told that this month, the United States will impose around 10 % extra tariff on another $300 billion worth of exports of China commencing next month, after two biggest economies of the world closed their first direct talks in three months without reaching to any progress. The international Monetary Fund stated that, the war is set to minimize economic growth of the China and significantly lead to negative spill across the globe.

The retailer cars sales in the China dropped for 13th time in the last 14th months in the month of July, jumped 5.3 %, said by the passenger car association of China last week.