Chinese market was for a long time the key driver for global growth of auto producers, however, this time most likely comes to an end, Bloomberg reports.

Volumes of passenger cars purchases by dealerships have been falling for three months in a row. In September it declined by 12% to 2,06 million. Total growth this year so far is 0,6%.

It shall be noted that autoproducers invested billions of dollars into building factories in China, and now they will have to look for growth somewhere else.

Manufacturers of luxury cars, including BMW and Daimler AG, already warned about profit reduction. Low demand on behalf of Chinese consumers already made Jaguar Land Rover to shut its plant temporarily.

Slowdown in sales came just after international companies strengthened their positions in China. BMW announced $4,1 billion deal to take control over its joint venture in China. This German producer is the only one among Western representatives that is still adding capacity and widens range of models including electric cars.

General Motors Co., the largest producer in the US, told that sales fell by 15% in third quarter. The same situation was reported by Volkswagen and Honda Motor.