The Chinese car market suffered its steepest monthly fall in more than six years last months as the country heads for its first annual decline in three decades.
The world’s biggest auto market, which has recorded steady sales rises since the 1990s, is suffering from the removal of government subsidies on vehicle purchases earlier this year, and weaker consumer sentiment as the Chinese economy slows.
It has been undermined further by the a deepening trade war with the US and a faltering stock market, say industry executives and analysts.
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