GUANGZHOU/NEW YORK -- New automobile sales worldwide in 2019 are expected to fall on a unit basis by about 4%, according to data released as of Saturday, a drop so steep it was last seen in the midst of the global financial crisis in 2008 and 2009.
This marked the second straight year of declines and at a steeper rate than the 0.6% of 2018. Car sales were dragged down by China, the world's biggest market, and fourth-ranked India. The prolonged slowdown in the developing world that had been propelling the market raises the possibility of job cuts and an industry shake-up.
