China’s January Auto Sales Fell 18.7% Year-on-Year, Worse Than Forecasted

China’s January Auto Sales Fell 18.7% Year-on-Year, Worse Than Forecasted
A carrier trailer transports newly manufactured cars at a port in Dalian, Liaoning Province, China on May 21, 2019. Reuters
Reuters
Updated:

SHANGHAI—Auto sales in China fell 18.7 percent in January, more than expected and marking the industry’s 19th consecutive month of sales decline, data from the country’s biggest auto industry association showed on Feb. 26.

The China Association of Automobile Manufacturers (CAAM) posted on its official WeChat account that new energy vehicle sales during the month fell 51.6 percent year-on-year, adding that declines in China’s automotive production and sales levels will be more significant in February due to the coronavirus outbreak.