Car sales in China dip for sixth month in a row; may undo decades of growth

Retail sales of sedans, multipurpose vehicles and sport utility vehicles plummeted 18% to 2.05 million units in November

Car sales in China plunged for a sixth consecutive month, intensifying pressure on global automakers that have staked their future growth on the world’s largest auto market.

Retail sales of sedans, multipurpose vehicles and sport utility vehicles plummeted 18 per cent to 2.05 million units in November, the China Passenger Car Association said on Monday. That brought the drop in the first 11 months of the year to 4.3 per cent, all but ensuring the market will have its first annual decline in at least two decades.

With the trade war with the U.S. showing no signs of abating and slumping stocks