China's passenger car sales fall for first time in years

China's annual passenger car sales fell last year for the first time in more than 20 years as the trade war with the US rocked consumer confidence and Beijing reined in car financing channels. Passenger car sales fell to 22.4 million vehicles in 2018, down 5.8 percent from a year earlier, data from the China Passenger Car Association (CPCA) showed on Wednesday. In December sales plummeted 19.2 percent from a year earlier, the CPCA said.

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