The Chinese automotive market was predicted to slow down this year from the previously seen high double-digit growth levels, but the decline has come sooner than many expected. The GDP forecast for the country still remains a strong 7% for this year, but the precipitous fall in the stock market, industry overcapacity, slowdowns in the real estate and infrastructure sectors have dented customer demand, bringing about a change in the dynamics of China?s previously thriving automotive market.
The Chinese automotive market was predicted to slow down this year from the previously seen high double-digit growth levels, but the decline has come sooner than many expected. The GDP forecast for the country still remains a strong 7% for this year, but the precipitous fall in the stock market, industry overcapacity, slowdowns in the real estate and infrastructure sectors have dented customer demand, bringing about a change in the dynamics of China?s previously thriving automotive market.
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