End of October, China’s formerly white-hot auto industry basically is where it was last year. January through October, production of cars and commercial vehicles is down 0.42 percent, sales are up 0.19 percent, the China Association of Automobile Manufacturers CAAM says.
15.7 million units were sold for the year so far, same as last year. In October, production was down 4.48 percent to 1.587 million, sales made up for it by rising 5.32 percent to 1.606 million.
The industry had hoped for a (for Chinese tastes) slight increase of between 5 and 7 percent for the year, but so far, it doesn’t seem to be happening. The industry is treading water.