SHANGHAI—A slump in commercial-vehicle demand led China’s automobile industry association on Monday to downgrade its sales forecast, as anti-pandemic measures weighed on the economy and its car market, the world’s largest.
The industry will sell 27 million cars this year, up 3 percent on 2021, the China Association of Automobile Manufacturers forecast, cutting its outlook from the 27.5 million sales and 5.4 percent growth it predicted in December.
