Vehicle sales in China fell for the first time in almost three decades last year, as the end of government tax breaks and a wider economic slowdown reduced consumer demand for new cars in the world’s largest market.
Sales of passenger vehicles were 23.8m in 2018, down 4.1 per cent from the previous year, according to China’s Association of Automobile Manufacturers.
The figures underline that a three-decade run of growth that has made China crucial to the profits of global carmakers may be coming to an end.
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