This has been one more year where the sales of vehicles have gone down as the trade war with the United States and a slowdown in the economy have fueled the anxiety of the consumers and the demand for the electric vehicles has also been weakening as per the reports which came out on Monday from an industry group. As the sales in the biggest global market in the industry have seen a decline by a level of 9.6% from the year 2018 when the level was 21.4 million SUVs, minivans and sedans as per the industry group.
This downturn ahs been squeezing the automakers from China and around the globe at a moment when they are spending many billions of dollars for the meeting of the targets set by the government to sell these electric vehicles.
The China sales of the Ford Motor Co. have fallen for the third consecutive year in the year 2019 as it dropped to lesser than half of what the sales had been at the peak in the year 2016 as the company had said that the situation for the market as a whole is looking like it is going to be getting worse in the year 2020.
Post two decades of growth that has been explosive, this is the first time China has been suffering a decline in the sales of automobiles in the year 2018 as there was an uneasiness over the trade war that was going on with the Trump administration and the slowing down of the economic growth which had prompted the consumers to put the big purchases off. Sales in the month of December had been down by 0.1 % from the year before.
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