January 20, 2020 / 4:28 AM / a month ago

China forecasts vehicle sales at flat or falling in 2020

FILE PHOTO: Cars drive on the road during the morning rush hour in Beijing, China, July 2, 2019. REUTERS/Jason Lee

BEIJING (Reuters) - China expects the country’s vehicle sales to remain at around 25 million units in 2020, and could be flat or decline, Industry Minister Miao Wei said on Monday.

Miao made the comments in a news conference in Beijing.

He also said that the ministry is studying postponing the reduction of subsidies for new energy vehicles (NEV). Earlier this month, the ministry said it would not make significant cuts to NEV subsidies this year.

Reporting by Shen Yan and Brenda Goh; Editing by Christian Schmollinger

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