China's auto sales could experience negative to low growth over the next th...
BEIJING/SHANGHAI - China’s auto sales could experience negative to low growth over the next three years, an official with the country’s top industry association said, after sales fell for a 14th consecutive month in August.
Total auto sales fell 6.9% from the same month a year earlier to 1.96 million, CAAM said on Wednesday. This followed declines of 4.3% in July and 9.6% in June. As recently as three years ago automakers had enjoyed double digit annual growth in the world’s largest auto market, before the brakes came on with the first annual contraction since the 1990s last year.
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