Mexican Media Brands
China’s Auto Industry Softens Sales Forecast
Six months ago the China Assn. of Automobile Manufacturers predicted car and truck sales would expand about 10% to 24.2 million units this year.
#economics
Share
Six months ago the China Assn. of Automobile Manufacturers predicted car and truck sales would expand about 10% to 24.2 million units this year. Now the state-backed group expects 8% growth and 23.8 million deliveries.
Vehicle sales in China surged 14% to 22 million units from 2012 to 2013. CAAM says it trimmed its forecast for 2014 because China's sluggish economic growth and the likelihood that more cities will limit new-car purchases.
Passenger vehicle sales in China climbed 11% to 9.6 million units in the first half of 2014. But commercial vehicle sales dropped 3% to 2 million over the same period. Analysts consider the latter market the better barometer of China's economic conditions.
RELATED CONTENT
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.