CAAM, a representative organization of Chinese automakers, said on Monday that 28.1 million new cars were sold in Asia last year. This is a 2.8 percent decline compared to 2017, when sales grew by 3 percent, and in 2016, even more, by 13.7 percent.
According to CAAM reports, sales declined by 13 percent in December, with an annual decline recorded for the sixth consecutive month, according to experts, indicating a slowdown in economic growth. At the beginning of last year, CAAM expected a 3 percent increase in sales by 2018.
On Monday, the organization said it expects the sale of 28.1 million new cars this year.
Ford was the weakest in the Chinese car market last year, with sales declining by 37 percent. The winner was the Chinese Geely car manufacturer, selling 20 percent more cars than in 2017, but its sales increased significantly by 63 percent.
Sales of electric and hybrid cars grew by 61.7 percent last year to 1.3 million, and this year the CAAM expects a 1.6 million figure.
