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Auto Sales Slow Down in China
While some rumors suggest that Chinese automakers are experiencing strong momentum, sales in the domestic market have instead slowed significantly, according to a report by Automotive News.
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Éric Descarries
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Auto Sales Slow Down in China
Éric Descarries
Hits: 15
While some rumors suggest that Chinese automakers are experiencing strong momentum, sales in the domestic market have instead slowed significantly, according to a report by Automotive News.
Citing the China Association of Automobile Manufacturers, the publication reports that deliveries fell by 3.2% in January, totaling fewer than 2.35 million vehicles.
BYD, a veteran of the Chinese auto industry with global ambitions, saw its domestic deliveries plunge by 53%, with only 110,000 vehicles sold. Meanwhile, Geely recorded a 13% decline, Changan dropped by 33%, and Chery fell by 40%.
The report attributes this downturn to the imposition of an additional 5% tax on the purchase of fully electric vehicles, plug-in hybrids, and long-range EVs.
Moreover, other clouds appear to be gathering on the horizon, including the elimination of several government incentives, a “normal” market slowdown, and declining exports.
In addition, some models, including the very popular Buick Envision, could see their production moved back to the United States.
To be continued…
(Photo : General Motors)
Éric Descarries
L'Automobile Magazine
News
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