Latest figures show that vehicles sales in China experienced their first decline since 1990 last year, as the momentum from a government tax break slowed and consumer sentiment took a tumble, the Financial Times reports.
Passenger vehicle sales were down 4.1% year-on-year in 2018 at 23.8 million, according to the China Association of Automobile Manufacturers (CAAM).
Including trucks and buses, overall sales fell 2.8% from 2017, said CAAM. In December, sales were down 13% from the same time last year, making six months of continuous decline.
Experts expect the slowdown to roll on into 2019, as several of the key factors behind look unlikely to be remedied. When demand wobbled in 2015, for example, the government slashed sales taxes by half to boost sales, but appears reluctant to do likewise this time round.