China’s auto sales dropped steeply in November

China’s automobile sales in November 2018 fell 13.9 percent from the same period last year, the steeped decline since January 2012, according to a Reuters report.

The China Association of Automobile Manufacturers (CAAM) reported that automobile sales in China have been declining for five straight months, reaching 2.55 million vehicles in November. In the first eleven months of the year, sales totaled 25.4 million vehicles, down 1.7 percent year-on-year.

The sluggish economy and the ripple effect of the trade war with the USA are cited as the main factor for the dive. 

On a positive note, sales of the new-energy vehicles category, which comprises of electric battery cars and plug-in electric hybrid vehicles, remain robust with an increase of 37.5 percent from last month in November.