China car sales to slip 2% in 2020

SHANGHAI, Dec 13 (SMM) – China’s automobile sales are expected to slip 2% to 25.32 million units in 2020, according to the country's top auto industry body.

China's auto market, the world's biggest, is unlikely to recover until 2022, and will see annual expansion of about 4% in 2023-2025, said Xu Haidong, assistant secretary general of the China Association of Automobile Manufacturers (CAAM) at a conference on Thursday.

Data from the association earlier this week showed that China’s automobile sales declined 9.1% year on year to 23.11 million units in the first 11 months of 2019, on track for a second year of contraction.

In 2018, China’s car sales slid 2.8%, marking the first contraction since the 1990s.