Vistors are pictured at an auto show in Guangzhou, Oct 2, 2015. [Liu Jiao / For China Daily]

A slowdown in China's economy has led to a concurrent slowdown in the vehicle market, although in the first quarter of the year, vehicle sales in China rose by 5.98 percent year-on-year to 6.53 million units, according to the China Association of Automobile Manufacturers, beating 2015's growth pace.

It is widely seen as impossible for the auto industry to regain double-digit growth, which will exacerbate competition between carmakers and further bring down prices. The auto association has predicted that vehicle sales in China will grow 6 percent this year.