Slow car sales ‘new normal’

Source:Xinhua Published: 2018/10/23 22:13:41

A senior official said Tuesday that China's auto sales and production would enter a period of slow growth.

The country's auto sales and production had been at high levels, reaching more than 29.4 million units in 2017, and it was hard to sustain such high-speed growth, said Xin Guobin, deputy head of the Ministry of Industry and Information Technology.

"Under the current circumstances, the period of fast auto sales and production expansion may be over, and slow growth is likely to be the new normal," Xin told a press conference.

Xin said the sector still enjoyed vast potential for development as huge demand would emerge from replacement and small cities.



Posted in: INDUSTRIES

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