In 2018, China recorded its first annual decline in car sales in decades. The gathering gloom about Chinese car sales, especially among foreign manufacturers, misses a fundamental point, however: growth in automotive services in the country is offsetting the decline in vehicle sales: We estimate that overall Chinese "auto/mobility" revenues will rise this year to $590 billion, up $10 billion from last year. This figure is on track to top $1 trillion by 2025.
In addition, demand for the purchase of new vehicles is also increasingly tempered by the growing availability of good-quality used cars.
AmCham Shanghai's Automotive Committee invites you to our look back/look ahead event on February 21st from 9:00 am to 12:00 pm at Portman Ritz Carlton Hotel. In this session, our expert speakers will review the 2018 sales results, discuss the policies shaping the future automotive industry which will influence the forward outlook, and summarize the trends shaping the global industry as showcased in the recent Consumer Electronics Show in Las Vegas.