Chinese car sales plummeted 8.2% during full-year 2019.

 

  • On a full-year basis for 2019, Chinese car sales slumped by 8.2%, with sales of new energy vehicles plummeting 4% to 1.24m units. The China Association of Automobile Manufacturers foresees a further 2% contraction in vehicle sale in 2020. Also, the sale of new energy vehicles (NEVs), including plug-in hybrids, battery-only electric vehicles and those powered by hydrogen fuel cells tumbled for the sixth consecutive straight months to 27.4% in December 2019, mainly because of government roll-back incentives for purchases of such cars amid claims that some of the manufacturers have turned more dependable on such funds.