The Chinese automotive market has been growing steadily since 1990, and in 2009 it has become the world's largest embrace of the US. Currently, however, it differs in the current year. In October, China fell by 11.7 percent compared to the same month in 2017. In the first ten months of 2018 China bought 22.87 million cars, which is 0.1 percent less than in the same period of the previous year.
In addition, October was the fourth month in a row when car sales in China were lower than a year ago, suggesting that 2018 could end in 2018 compared to 2017.
If this really happened, it would turn out that the CAAM failed in its forecast as it announced a year-on-year increase in sales by 3 percent in 2018.
It remains clear whether car manufacturers will use November and December to correct their current sales results to end in 2018 plus. This year's car sales in China were also negatively impacted by the US-led trade war, which led to an increase in the import duty.
According to Reuters, many car dealers on the Chinese market currently offer large discounts for customers, while the government should lower taxes on small cars to increase sales.
Although total car sales declined in the first ten months, electric and plug-in hybrid models grew by 75.6 percent a year, with 860,000 units sold in January-October.