The Chinese car market shrank slightly in October as subsidized incentives to trade in older vehicles expired, new figures revealed on Monday. Deliveries to customers in China fell by 0.8% year-on-year, according to the industry association PCA. Apart from a drop in January due to the Chinese New Year, when sales regularly fall significantly, this was the first decline in the market since August 2024. In many provinces and large cities in the country, such as Shanghai, trade-in incentives for used cars are expiring or have already been stopped. These incentives had driven new car sales this ye…