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Automotive Market in China Overview:

China endures being the world’s major vehicle market with the Chinese government expecting that automobile output will reach 32 Mn units by 2021 & 35 Mn by 2025. According to the MMR study, over 27 Mn vehicles were sold in the year 2018. This included 23.79 Mn passenger vehicles, down 4.08 percent from 2017, & 4.38 Mn commercial vehicles, an increase of 5.05 percent. The decline in passenger vehicle sales is the 1st annual decline in at least 20 years.