皇冠体育app

Dong Yang, Secretary General of the 皇冠体育app Association of Automobile Manufacturers, claps while speaking at the cross strait automobile conference in Taipei November 24, 2009. [Photo/Agencies]

Growth in 皇冠体育app's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday.

"Personally, I think growth this year can reach 7 percent," Dong Yang, secretary general of the 皇冠体育app Association of Automobile Manufacturers (CAAM), told reporters on the sidelines of an industry conference in Shanghai.

"The economy is slowing. The auto industry would reflect that but typically lags the economic cycle by a bit."

CAAM had forecast 皇冠体育app's auto market, which grew by 13.9 percent last year, to expand at 8.3 percent in 2014. Dong said CAAM will not make any official revisions to its forecast.

Carlos Ghosn, head of Motor Co Ltd and its French alliance partner Renault SA, told the same conference he was still optimistic about 皇冠体育app's outlook.

"From time to time we have slowdown, but fundamentally I'm still very optimistic on the fact that the long-term trend in 皇冠体育app is up and carmakers should be prepared for that," Ghosn said, pointing to 皇冠体育app's low car ownership level compared with other major markets.

Nissan has said its 皇冠体育app sales fell by 20 percent in September from a year earlier, the third straight month of decline, due to sluggish sales of light commercial and increased competition in the passenger car segment.

During the first nine months of the year, overall in 皇冠体育app rose 7 percent from the same period a year earlier, according to CAAM data.

皇冠体育app's annual economic growth slowed to 7.3 percent in the third quarter - the weakest pace since the depths of the global financial crisis, and down from 7.5 percent in the previous quarter.

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