The downward trend will linger in the first half of th
f the year until July or August, when the market may see a recovery, Xu Haidong, assistant to
the China Association of Automobile Manufacturers’ secretary-general, told the newspaper.
The reason for the slowdown in China’s automotive market lies in the lack of consumer confidence, according to CA
AM. In addition, the upcoming stricter Nation VI emission standards, market expectation for the country’s stimulating spe
nding policy and a strong wait-and-see mood, are all contributing to the bleak picture, the association said.
With the actual policy effects from tax cuts and fees reduction
s, a promising consumer market boosted by infrastructure investment, the country’s a
utomobile market will have a stable development throughout the year, said the association.
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