Auto industry cautious as China starts 2020 with 2% sales decline forecast
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BEIJING/SHANGHAI (Reuters) - China's auto market is likely to shrink for the third consecutive year in 2020, the country's top auto body said on Monday, with industry watchers hoping a sales recovery in lower-tier cities help ease the pace of decline.The China Association of Automobile Manufacturers (CAAM) expects a 2% fall in vehicle sales. That would compare with 8.2% last year when sales were pressured by new emission standards in a shrinking economy that was contending with tit-for-tat..