BEIJING/SHANGHAI—Automakers in China need to get used to a new normal of “low speed growth” in the world’s largest car market, the country’s top auto body said on Jan. 13, as it reiterated predictions that sales will likely shrink for the third consecutive year in 2020.
The China Association of Automobile Manufacturers (CAAM) expects a 2 percent fall in vehicle sales. That would compare with an 8.2 percent drop last year, when sales were pressured by new emission standards in a shrinking economy also contending with tit-for-tat import tariffs with the United States.
