Hong Kong (CNN Business)After a tough 2018, global automakers look set for another bruising year.
Data published Monday show that the slowdown in China, the world’s biggest car market, is getting worse. And the United States is considering imposing tariffs on imported cars, a move that would hit global brands hard.
Passenger car sales in China slumped by almost 18% in January compared to a year ago, according to China’s Association of Automobile Manufacturers. That’s the latest ominous sign for global brands such as General Motors (GM)
and Volkswagen (VLKAF)
, which have come to depend on blockbuster sales to Chinese consumers.