TUESDAY, 26 MAR 2019

 

CONNECT

Facebook Linked In Twitter
PwC_Twitter_21/03-28/03_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

FM Outlines Cyprus’ Vision to Establish Regional Security and Cooperation Organisation

Cyprus and Portugal to Enhance Cooperation in Maritime Transport

IMH LTD
GAP_Group_2018_468x60px

INTERNATIONAL

brought to you by CIPA

China Car Sales Fall for the First Time in 20 Years

China Car Sales Fall for the First Time in 20 Years

Car sales in China, the world's biggest vehicle market, have seen their first annual fall in twenty years.

Sales fell 6% to 22.7 million units in 2018, according to the China Passenger Car Association (CPCA).

The deceleration comes amid a slowdown in China's economy which has hit performance at car manufacturers around the world.

The news comes after Apple warned that sales would be hit by slowing iPhone demand in China.

Meanwhile the country's most successful carmaker, Geely, is forecasting flat sales this year.

Foreign car makers such as Ford, Volkswagen, Jaguar Land Rover and General Motors have all reported falls in sale over the last few months in China.

The China Association of Automobile Manufacturers (CAAM), a government-backed industry group, last month blamed the sales slowdown on economic shifts and "international reasons", referring to China's trade war with the US.

Last year, both countries imposed billions of dollars' worth of tariffs on each other's goods.

CAAM said it expected the market to be unchanged in 2019 and added that although demand for diesel and petrol cars was falling, rising sales of electric cars would probably help the overall market to avoid another slump.

Government subsidies for car buying also ended last year reducing consumer incentives to buy new cars.

However, the China National Development and Reform Commission (NDRC) says it plans to introduce policies to boost consumer spending on cars as well as home appliances.

NDRC vice-chairman Ning Jizhe told China's state broadcaster that there was still potential for more car sales. He said policies such as the introduction of a rural car purchase programme, or a cut in taxes on car sales could help drive sales.

 

MORE ON INTERNATIONAL

EY: Media and Entertainment Companies Must Focus on Older Generations

Media and entertainment companies must adopt a multigeneration strategy and challenge ...

Annual Growth in Labour Costs at 2.3% in Euro Area

Hourly labour costs rose by 2.3% in the euro area (EA19) and by 2.8% in the EU28 in the ...

A Third of EU Trade is with the United States and China

In 2018, the United States (€674 billion, or 17.1% of total extra-EU trade in goods, ...

FROM AROUND GOLDNEWS

   

Christodoulides Outlines Cyprus’ Vision to Establish Regional Security and Cooperation Organisation

Foreign Minister, Nikos Christodoulides, outlined Cyprus' vision to establish an organization of security and cooperation in the region, speaking on March ...
   

Staff Statement Following the Sixth Post-Programme Surveillance Mission to Cyprus

European Commission staff, in liaison with staff from the European Central Bank European Central Bank (ECB) staff participated in this mission and the drafting ...
   

FXTM Announces Licence from the FSC of the Republic of Mauritius

As part of its monumental growth and continued international expansion, FXTM has announced that it has added another licence to its growing portfolio of ...
   

Global Blue and RCB Bank Join Forces on Merchant Solutions in Cyprus

RCB Bank and Global Blue have entered into a strategic partnership offering Dynamic Currency Choice (DCC) and Tax Free Shopping services to their merchant ...
   

Monaco International Luxury Property Expo 2019

The Monaco International Luxury Property Expo 2019, the world’s central B2C exhibition for upscale international real estate, will be held 15-16 May 2019 ...
   

PwC’s 4th Twitter Tax Cast to Provide Information on Cyprus’ Tax System

Business executives and the general public will have the opportunity to receive important information and also submit questions live on Twitter to PwC experts, ...
   

Fitch Upgrades Hellenic Bank to 'B+' and Affirms Bank of Cyprus at 'B-'

Fitch Ratings has upgraded Hellenic Bank Public Company Limited`s (HB) Long-Term Issuer Default Rating (IDR) to `B+` from `B` and Viability Rating (VR) to `b+` ...
   

Cyprus and Portugal to Enhance Cooperation in Maritime Transport

Cyprus and Portugal have underlined their wish to further enhance their cooperation in the sector of maritime transport during an official visit by Deputy ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

GRS_Recruitment_28/02-31/03_300x250px
GloriaJeans_300x250px

IMH LTD