Auto sector slows down China: September sales decline for the 15th consecutive month

New delhi date. October 15, 2019, Tuesday

The decline in auto sales is not happening in India. Information from China's auto industry is also currently facing a downturn. In September, auto sales in China declined by 8.8 percent year-on-year. This is the month of September for the third consecutive month.

China's hopes of an improvement over the past six months of the current year have diminished water. In September this year, auto sales in China fell 8.5 percent compared to September last year, compared to September last year, according to the China Association of Automobile Manufacturers.

In August and July, the sales figures were down by 8 percent and 8.5 percent respectively. In the aftermath of the trade war with the United States and the dwindling economy, China saw an annual decline for the first time in six decades after 9 decades.

Generally, the September and October months for auto trading in China are known as the Golden September, the Silver October. These two months are considered to be a busy season for China's auto industry, as consumers leave to buy vehicles in the two months following the summer season.

The association previously said that it expects sales to increase in the last 6 months of the current year. However, sales are expected to decline by 5% year-on-year to 5.3 million vehicles in the full year of the year

Sales have increased substantially in the last 6 months, but they do not see any significant momentum. Three years ago, China's auto industry enjoyed double-digit sales growth.