Vehicles sales in China fell 11.7 percent from a year earlier to 2.38 million in October 2018, following a 11.6 percent drop in the previous month. It was the fourth consecutive annual decline in vehicle sales in the world's largest auto market and the biggest since a 26.4 percent slump in January 2012, which was in part due to the timing of the China New Year holiday that year. Recent declines came in amid slowing economic growth and persistent trade tensions with the US. Considering the first ten months of the year, vehicle sales were down 0.1 percent to 22.87 million, the first year-to-date fall since the series began. Total Vehicle Sales in China averaged 1039610.67 from 1997 until 2018, reaching an all time high of 3060271 in December of 2017 and a record low of 88416 in January of 1998.
Total Vehicle Sales in China is expected to be 2430591.78 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Total Vehicle Sales in China to stand at 2345061.57 in 12 months time. In the long-term, the China Total Vehicle Sales is projected to trend around 2342290.65 in 2020, according to our econometric models.