January 20, 2020 / 3:19 AM / in a month

China forecasts vehicle sales at flat or falling in 2020

FILE PHOTO: Robotic arms are seen on a vehicle production line at a production base of Great Wall Motors in Yongchuan, Chongqing, China October 22, 2019. Picture taken October 22, 2019. China Daily via REUTERS

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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