China 2020 Car Sales Drop 6.8%, Shrinking for Third Year — 2nd Update
Provided by Dow Jones By Trefor Moss SHANGHAI -- Chinese car sales declined 6.8% last year, as the world's largest market for automobiles shrank for a third straight year. Yet the single-digit drop counted as a success in the context of 2020, industry analysts said, with the coronavirus pandemic taking an even heavier toll on other markets. Global car sales are estimated to have fallen 15% last year, according to research firm IHS Markit, while U.S. sales are also expected to have dropped about 15%. "In Q1 we projected much, much worse," said Lin Huaibin, ...
Source: morningstar.com