Sales of passenger cars in the Chinese domestic market are expected to fall below 19 million vehicles in 2026, which would be the lowest level since 2014. This is according to the industry association China Association of Automobile Manufacturers, Reuters reports.
Total vehicle sales, including commercial vehicles, fell 9.2 percent in October compared with the year before, following a decline of 8.4 percent in September. During January-October, the decline was 5.1 percent.
At the same time, sales of so-called new energy vehicles, electric cars and hybrids, increased by 13.1 percent in October and 11.3 percent so far this year. Vehicle exports are expected to exceed 11 million units for the full year.
