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Automotive sales in China plummeted 11.6% in September to 2.39M units, according to the China Association of Automobile Manufacturers.
Passenger vehicle sales (sedan, MPV, SUV and crossover utility vehicles) were down 12.0% during the month.
The monthly drop was the largest in China since 2011 and marks the decline of amidmark issues.
The Chinese auto market is up 1.5% YTD through the end of September to 20.49M vehicles.
The three-month downturn in China is a negative factor for global automakers and manufacturers of their products in China.
"It's very alarming and is causing some automakers and suppliers." "That's because the market has been growing non-stop every year, and those companies make plans based on growth," notes to Shanghai-based analyst from research firm Automotive Foresight.
Related automaker stocks: OTC: OTCPK: GWLLF OTCPK: BMWYY, GM, OTCPK: GNZUF, OTCPK: GNZUY, TSLA, F, OTCPK: NSANY, TM, OTCPK: MZDAY, HMC.
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