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Recovery Of Auto Market Slower Than Expected - CAAM

CHINA PRESS

China’s automobile market has recovered slower than expected due to uneven subsidy implementation and weak aggregate demand, according to Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers (CAAM). Speaking at a recent press conference, Chen said overall demand still lags pre-Covid levels, although the industry had shown positive improvements in 2023. The State Council recently signaled it would enhance macro-economic support which will further boost demand in the auto-market in H2, Chen said. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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