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Car sales tipped to drop by 8%

(ATF) – Retail sales in the auto market are forecast to decline by 8% this year compared with the same period in 2019.   

The China Passenger Car Association warned on March 9 that if there is no strong stimulus policy at the national level, the negative growth rate of the auto market may increase further in 2020 – to 3 percentage points lower than the previous forecast of a 5% decline.

Retail sales are now forecast to fall 8% year-on-year in 2020, down 9 percentage points from the forecast of 1 per cent growth in 2020 at the end of 2019.

Meanwhile, there has been a consumer complaint laid over Tesla’s domestic Model 3 alleging that the self-driving hardware HW3.0 version shown in the “environmentally friendly car list” had been “reduced” to a HW2.5 version with a performance difference of 21 times.

Officials from the Ministry of Industry and Information Technology interviewed personnel at Tesla (Shanghai) Co Ltd on March 10, and ordered the company to immediately rectify and reform its product in accordance with relevant provisions.


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