Chinese car sales unexpectedly slowed down last month but, barring a Russian-style meltdown of the Asian nation’s economy, it is forecast to remain the world’s largest automotive market. From a unit sales standpoint, anyway. But the U.S. retains its lead in at least one critical metric.
Measured by the value of the new vehicles sold last year, the States had a $161 billion lead over China, according to a study by data tracking service TrueCar Inc. That reflects the fact that Americans tend to buy larger, more lavishly equipped vehicles.
“While the growth of China’s new vehicle market over the last decade has been impressive, the total value of that market remains considerably lower than the U.S. and will remain so for some time,” said John Krafcik, president of TrueCar.