China’s vehicle market slows in 2018, EVs boom

摘要

China’s vehicle output and sales were lower than expected last year, reaching 27.81 million and 28.08 million units respectively, down 4.2% and 2.8% year on year, datareleased by the China Association of Automobile Manufacturers (CAAM) showed.In 2018, China’s vehicle industry faced great pressure. The purchase tax preferential policywas withdrawn amid a background of slower economic growth and the trade war betweenChina and the United States, both of which undermined consumer confidence, CAAM said.