On Wednesday, the 11th of September, data from China Association of Automobile Manufacturers (CAAM) had depicted a much downbeat portrait of Chinese auto industry, while the world’s largest automotive market’s sales took a heavy header of 6.9 per cent in August, meanwhile an associate of China’s auto industry said following the reveal of Wednesday’s (September 11th) auto sales data, which faced off a decline for 14th straight month in a row that the Central Asian nation could witness a contraction in auto sales over the next three years.
Aside from casting off charms out of global auto industry, top industry bodies had also warned further bumps ahead, while China’s auto sales would likely to remain lower for the next three to five years. Concomitantly, data from China Association of Automobile Manufacturer (CAAM) had also added that the sales figure of new energy vehicles curbed for second consecutive month on August, while August’s tumbling of auto sales followed a 4.3 per cent fall of sales in July alongside a decline of 9.6 per cent in June.
Nonetheless, expressing cautious optimism over the second half of the year, a senior official of CAAM, Shi Jianhua said on Wednesday (September 11th), “The sales in the second half of the year should become better, but we are not sure to what extent the sales would be.
Perhaps the next three years will be at a low or small negative growth. We’re all looking forward to sales picking up, but it’s normal if we don’t get that. ”