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China Sees Downfall In Automobile Sales: Reuters

China’s automobile industry association has downgraded its sales forecast for 2022, affected by a drop in commercial vehicle…
byShivani Kumaresan
July 11, 2022
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  • China’s automobile industry association has downgraded its sales forecast for 2022, affected by a drop in commercial vehicle demand, Reuters reported.
  • The world’s largest car market has been hit by business restrictions imposed to curtail the spread of COVID-19 cases.
  • China Association of Automobile Manufacturers forecasts to sell 27 million cars in 2022, a 3% increase from 2021.
  • The association had previously predicted 27.5 million unit sales.
  • It sees a 16% fall in sales of commercial vehicles to 4 million units.
 
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