Carmakers to Face More Pain as Sales in China Keep Sliding
- Challenges mounting as economy slows, trade woes persist
- With China’s slump, carmakers are left with few growth markets
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Car sales in China continued to decline in January after their first full-year slump in more than two decades, adding to pressure on automakers who bet heavily on the market amid waning demand for cars from the U.S. to Europe.
Passenger vehicle wholesales fell 17.7 percent year-on-year, the biggest drop since the market began to contract in the middle of last year, while retail sales had their eighth consecutive monthly decline, industry groups reported Monday.