China’s car sales fell by 19.5% in January, marking the third consecutive month of decline. This drop in sales highlights the subdued consumer confidence in the country, which is affected by ongoing adjustments in the property market and concerns over employment. Additionally, the auto market’s struggles are compounded by challenges associated with China’s electric vehicle initiatives, including the phase-out of subsidies and fierce price wars among manufacturers.
China’s car sales fall 19.5% in January amid ongoing economic pressures
