Beijing, Feb. 7, (dpa/GNA) - The Chinese car market recorded a sharp decline in January, with 1.24 million passenger cars delivered to customers, 41% fewer than a year earlier, according to preliminary figures released by the Chinese Passenger Car Association (PCA) on Tuesday.
A decline was generally expected, as sales had increased significantly in December due to pull-forward effects: at the turn of the year, certain subsidies for more environmentally friendly cars and tax cuts for fuel-efficient models expired.
China is the world’s largest car market and as such the most important single market for the German manufacturers Volkswagen, including its subsidiaries Audi and Porsche, BMW and Mercedes-Benz.
GNA