Curbs on new vehicle purchases are likely to be imposed in eight more big Chinese cities, the China Association of Automobile Manufacturers said on Wednesday, a move that could slow demand in one of the world’s hottest car markets.
The association estimated these additional restrictions would cut car sales by 400,000, or more than 2 per cent of China’s annual sales, and hit economic growth.
China, the world’s largest car market with annual sales of more than 15m, is a crucial growth area for a global industry suffering from sharply falling sales in developed markets such as Europe.
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