Slow auto sales growth in China is 'new normal'

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The growth of China's auto sales and production is expected to slow down, according to Xin Guobin, deputy head of the Ministry of Industry and Information.

"Under the current circumstances, the period of fast auto sales and production expansion may be over, and slow growth is likely to be the new normal," Xin said during a press conference on Tuesday.

Data from the China Association of Automobile Manufacturers show that auto sales totaled 20.49 million in the first nine months of the year, up 1.5 percent from a year earlier.

"The country's auto sales and production had been at high levels, reaching more than 29.4 million units in 2017, and it was hard to sustain the high-speed growth,” said Xin.

Despite the slow growth, China's auto industry still enjoys good potentials for development as promising demand would emerge from replacement and small cities, he added.

China's auto sales fell for the third month in a row in September, down 11.55 percent from one year earlier, while production dropped by 11.71 percent.