Car sales in China are set to fall for the second year in a row as a slowdown in the world’s largest auto market ratchets up pressure on international brands such as Ford and Peugeot.
Passenger vehicle sales dropped 5.4 per cent in November compared with the same period a year ago, Chinese Association of Automobile Manufacturers (CAAM) figures released on Tuesday showed, as a decline in the country’s economy continued to weigh on consumer spending.
China’s car market, a crucial source of revenue for western automakers in recent years, has gone into reverse as a chill spreads through the world’s second-biggest economy. China’s gross domestic product grew at its slowest rate in about three decades in the third quarter.
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