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Financial News: China Automobile Sales Fall 8.2% In 2019: CAAM

China Automobile Sales Fall 8.2% In 2019: CAAM

01/13/2020 - 04:20:00 (RTTNews)

(RTTNews) - Vehicle sales in China continued to fall in December and decreased 8.2 percent for the whole year 2019, figures from the industry body the China Association of Automobile Manufacturers, or CAAM, showed on Monday.

In 2019, vehicle production dropped 7.5 percent from a year ago.

Despite the fall, the production and sales figures at 25.712 million units and 25.769 million units, respectively, remained the highest in the world, the group said.

Passenger car sales, which account for over 83 percent of total vehicle sales, decreased 9.6 percent from a year ago. Car production dropped 9.2 percent.

Automobile sales fell a modest 0.1 percent in December.

Citing the monthly trend of production and sales of vehicles, the CAAM said China's automobile production and sales situation is gradually improving.

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