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The shrinking of automobile sales affects the domestic LED car light market

Time:2018-12-17 Views:144
     According to industry data, in July and August of 2018, China‘s auto industry began to enter the traditional off-season sales season. The next year, the year-on-year growth in January-October was minus 400,000 units, basically returning to the 2016 level. In November, China‘s auto market suffered the biggest monthly decline in more than six years, down nearly 14% year-on-year, and this year will be the first annual decline in 30 years.
    Sales in the automotive industry have been declining. Some automakers have reduced their prices in order to maintain their quantity. The cost pressure is transmitted upstream to component suppliers. The car lighting industry, which is an important component, is also difficult to avoid. In the short term, it will inevitably lead to a reduction in the demand for car lights by car companies, which will lead to increased competition in car lights companies. In the long run, China‘s economic development has reached a turning point. In the next period of time, the growth rate will be relatively slow. The shrinking of the vehicle sales is the result of the downturn of the macro economy. In addition, the trade war has added more variables to the uncertainty of the market.