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Analysts said one cause of the automaker's troubles is its lineup. Out of 18 models it manufactures in China, only four are SUVs, which are the fastest-growing segment nationwide.

An upgraded China-ASEAN Free Trade Area Protocol took effect in July 2016 and calls for zero tariffs on as many as 95 percent of taxed items, improved rules of origin and simplified customs procedures, said Yang Chen, a senior partner at the Chinese law firm of Jincheng Tongda & Neal.

Analysts say that this time a more substantive outcome is likely.

Analysts believe the slowdown reflects the fact that the Chinese economy is shifting from the energy intensive industry to service industries with lower energy intensity.

Analysts believe the easing of restrictions would provide global companies massive growth opportunities in the country's fuel retailing sector.