Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Chinese Version   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home Email this story   Print this story
 
Light-vehicle market may contract in 2018, China official warns
Bloomberg | 2018/11/9

A Chinese government official has sounded the most direct warning yet about the nation¡¯s slumping car industry.

China¡¯s light-vehicle sales will come in under 30 million units this year and may even fall below 2017¡¯s tally, Wu Wei, a divisional director under China¡¯s top economic planning body, said Wednesday. Automakers and suppliers shouldn¡¯t expand production capacity blindly, and instead should focus more of their investments on research and product development, according to Wu.

A drop would mark the first full-year slide in China¡¯s car sales in about two decades, coming on the heels of four straight months of declines as slower economic growth and a trade conflict with the U.S. hurts demand. 

Car sales in China totaled 28.9 million units last year, according to the China Association of Automobile Manufacturers.

¡°It¡¯s not necessary to build production capacity blindly,¡± Wu said at the China International Import Expo in Shanghai. ¡°The development of a manufacturing business doesn¡¯t just depend on capital. Sustainable investment returns over the long term are key.¡±

Sales of new-energy vehicles are expected to surpass 1 million units this year and account for more than 3 percent of total light-vehicle sales, said Wu, a director at the machinery equipment division under the Department of Industries at the National National Development and Reform Commission.

Related Stories
  • China, dashing hopes for lower car taxes, tells industry to buckle up
  •     --Published:2018/16/11
     
  • Beijing's decision to maintain tax on auto sales is a bad move
  •     --Published:2018/16/11
     
  • Light-vehicle market on verge of rare annual dip after October sales slide
  •     --Published:2018/13/11
     
  • Auto sales post biggest drop in 7 years as growth engine stalls
  •     --Published:2018/12/10
     
  • New light-vehicle sales decline for 2nd straight month
  •     --Published:2018/14/9
     
  • Behind the sudden decline in China's auto sales
  •     --Published:2018/7/9
     
  • Light-vehicle sales drop in July behind weak crossover, SUV volume
  •     --Published:2018/14/8
     
  • Light-vehicle sales rose 2.3% in June behind sedans
  •     --Published:2018/13/7
     
  • Powered by sedans, light-vehicle deliveries rise 7.9% in May
  •     --Published:2018/12/6
     
  • Light-vehicle sales rise 11% in April
  •     --Published:2018/15/5
     
  • Light-vehicle sales rise 3.5% in March on demand for crossovers, SUVs
  •     --Published:2018/13/4
     
  • Light-vehicle sales fall as New Year holiday dents demand
  •     --Published:2018/13/3
     
  • Light-vehicle sales rise 11% in Jan. behind crossover, SUV demand
  •     --Published:2018/13/2
       
     
     

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     

     
     

    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
     
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.
    »¦ICP±¸06057291ºÅ