Chinese market suffers three consecutive months decline in the second half of 2018
- The Chinese market (PV + LCV) experienced three months of consecutive declines, in July, August and September 2018, the latter sales down 11% relative to September 2017. These declines in the Chinese market during the summer are the result of several months of weak growth recorded last spring.
- This trend in the Chinese market (only + 1% growth over the first 9 months for PC+LCVs and even + 0.4% for PCs) can be explained in part by the economic tensions between China and the United States, which led to reciprocal tariff increases, particularly for automobiles. These tariff increases are causing a slowdown in economic growth in China, and concern for Chinese customers, as a result of tensions between the two countries.
- Overall, there has been a slowdown in the Chinese market since 2017, when PC sales rose by only 1.4% while they increased by 15.6% in 2016. The years 2017 and 2018 could therefore mark the beginning of a stabilization of the Chinese market in the years 2019-2020 and following.
- Manufacturers who suffer the most from the slowdown in the Chinese market in 2018 are Suzuki (-50.7% over 9 months) - who recently decided to withdraw from this market - Ford (-46.1%), Fiat-Chrysler ( -35.9%), Dongfeng (-22.8%), BAIC (-18.1%), Changan (-17.5%), FAW (-14.2%), PSA (-13.5%) ), JAC (-8.5%), Great Wall (-6.2%) and Mazda (-4.6%).
Contact us: info@inovev.com